1-7-04 to 31-12-04 = $7.7 million in revenues & $860k...

1-7-04 to 31-12-04 = $7.7 million in revenues & $860k profit
1-1-05 to 30-6-05 =$8.7 million in revenues & $1.16 million profit.

Sale of goods for 1st half was $3.8 million and inventories were $212k.
Sale of goods for 2nd half were $5.1 million and inventories were $2.6 million

HMC previoulsy warned that Selenium prices were falling, and now it looks like they are having trouble moving the $2.6 million stockpile shown in inventories at the end of June 2005.

Any thoughts as to how this will effect the profit for the 1st half ?
Some sort of guidence would have been good, instead of letting the market take a guess.

The strange thing is in the chairmans address he states that they have a stock pile of $2.5 million which is on par with full year inventories ?

Chookbum was right, the liquidity is a killer on this stock, and they are having trouble maintaining profit flow.
But I still think this is a major over reaction, when you consider that it should be a short term slump in price.