sincere apologies to management

Well another year has passed and again we find ourselves waiting for the successful completion of a project.

First we had Clip-On, strike one, then we had PAP, strike two, and now we wait with baited breath for the outcome
of ArTiMist. Will it be ‘strike three you’re out’ or will it be ‘third time lucky’ ?

Indeed we must also ask ourselves if an outcome will be achieved in 2012, or will our dear ol custodians stretch it out for another year or two.

Today’s SP close of 2.1 is an all-time yearly low and probably says it all, but what’s even worse is that we have 4 to 5 times the number of shares on issue to what we had a few short years ago.

I’m afraid our management team, both past and present, just haven’t been up to the challenge. But rather than blame them for the situation we’re in, we really should be blaming ourselves, the shareholders, as we’re the ones who kept them in the job.

So my sincere apologies to management. Hopefully we can soon relieve you from the pain we have bestowed upon you.