th! any ideas?, page-20

Hi bitzer,

In fairness, I suppose management might have decided not to utilise Fortensa because of the SP instability caused previously (It may be because conditions have not been met to draw down further funding).

If that is the case, it would explain why they no longer have the capital available to install the first machine, and I guess under the circumstances a share placement is probably the logical alternative.

It would be nice to think that the sophisticated investors will hold their shares for some time, but in reality it probably won't happen. Why a 6 or 12 month covenant against selling is not the done thing I have no idea -may not fly with the market I guess.

Without further MOU news it's looking desolate IMO.

John S.