My understanding is this1. The annual report included provision...

My understanding is this

1. The annual report included provision for $ from Gesaf. Now that that money is not forthcoming, they need to revise the reports stating the financial situation as it is known now. This should be completed within a few weeks, lets say end of Oct at the latest.

2. They need to raise funds to offset the loss of Gesaf $. From what I understand they have some of that already and are looking to get more. This will not be of the $4m that Gesaf were offering, but TEE don't need that for operational purposes at the moment.

3. I can't understand why Gesaf bailed at the last minute, maybe their money source dried up or they lost interest, either way, very unprofessional of them. I believe TEE are trying to repay the $750k from Gesaf, so as to be rid of them totally (hence the extra funds they are trying to raise).

4. Further fund raising is likely to enable acquisitions to be made (the reason Gesaf came on board in the first place). Not liekly to occur for a few months as they get the shipp righted first and sailing in calmer waters

5. All Gesaf people have now left the building, the 3 remaining directors are all originals from some years ago.

6. The new managers of Beam and Network services seem to be making good progress

Looking at these scenarios, a relisting should occur within weeks, not months.

Beam is going well. Network services is getting back on track and NEC are back on board.

Whilst not out of the woods totally, there is light at the end of the very dark tunnel.