I understand your caution mate. In the present environment who...

I understand your caution mate. In the present environment who wouldn't be cautious. But if you wait for the FY03 results to be announced you will have missed most of the upside. Do a little research. 2003 is going to be an absolutely stunning year for this company. I know the ATC vis-simulation industry and I can tell you that Adacel has won EVERY ATC CONTRACT THAT THEY HAVE BIDDED FOR in the last two years (beating larger US companies such as Raytheon). They have a 100% success rate in winning ATC simulator contracts. No matter how sceptical you might be about tech stocks at present, you can't deny that Adacel have developed a highly valuable technology that civil/defence/corporates around the world are prepared to pay up big for. Speak to any analyst that covers Adacel and they will tell you that Adacel will generate substantial profits in FY03.