Quarterly Update, page-4

Hi All
my thoughts on the quarterly. on the face of it uninspiring, but they are quite a few good things though.

from where we have come from $4m last year to do $16m is great (although less then we thought awhile ago)

sales this quarter appox $8m is great but to keep the sp moving in the right direction this needs to became the norm each quarter and then some.

cash position very strong with $8m on hand plus receivables of $11.6m and about $9m of this should be coming in within the 20 days

going forward it looks as if Europe and Brazil will carry on preforming well and could at some stage see Canada and USA start to perform better, so sounds like the rest of the world should be able to do at lest $5m again this year.

the big item in the report was the $27 - $30m sales this year. must agree with Dianna thoughts on this as being conservative, yes Red they have over stated for to long now and i believe they are mindful of this and thats why the low figure, we already know they have $10 to $12m of work on their books in China plus the rest of the world $5m? they only need a one more contract like the wetlands one and they have reach target. they have stated they are working on a number of large projects expected to result in significant sales in china this fy apart from the 10 to 12m. personally i think we will done more than this $30m (although 95% of the companies out there would be rapped with this sort of growth) perhaps we are just a bit impatient.

many thing i took out of the report for myself was no need to sell any at this stage, future still very bright but might not be as fasts as might like

thanks
Mickem