shareholder update +4c, page-44

All.

We have a couple of choices here. We can either believe the trials will lead to business or not; here is a parallel to the Titanic.

If we believe they will make money then hold the shares and promote the company. Be wary of the ice bergs and call to the Captain (Mark) to change course if you see a snag on the horizon. We might still sink.

If we don't believe there is any future sell the shares and withdraw. If you don't wish to sell but are worried, don't whine on here to the other passengers about the ice bergs, go and talk to the Captain see above.

I am in the first group, I am hopeful of a return, see the ice bergs in the water but do not have anything I can offer to the Captain at the moment so will take my chances. For me that decision is made easier because 3 years ago there was a massive hole in the side of the boat from the last berg strike and I accepted that the boat was sinking with all hands aboard. We managed to survive and I have written off my not inconsiderable loss as being down to the previous Captain.

We can discuss how much the current crew are being paid and it is too much based upon current performance. I hope we will stay afloat and deliver on our promise but suspect a few hundred grand here or there won't make that much difference. Yes we need more cash, we have 5 million or so including debt to finance our activities so by the end of the coming quarter we will know one way or the other. If the board got paid a bit less we might have a few more days at most.

The only thing I know will not help anyone is being smug once the ship hits the ice berg 'again' and being able to say I told you so! You will still be left without a life boat and the Carpathia will still be days away.