there is something happening here, page-16

Intellectual property is intangible - as well as design. Legal agreements, carbon accounting, accreditation etc is much the same. Their skill sets are carbon accounting and plantings and the recognition has now been provided.

Therefore climate change is a fascinating market regarding carbon crediting and now is in the boardroom across Australia hence the reason why the carbon market will expand into commercial economies of scale. Energy generators and mining companies will all fall into line where liabilties will be occurred due to emissions.

Key priorities are growth in major clients including Macquarie's clients - expanding the model and growing the client base with future international accreditation. This signifies COZ has reached a major milestone which will no doubt mean they will embark on a period of rapid growth into 07/08.

Will do well as she branches out of NSW into emerging markets across Australia and perhaps overseas.

A medium term buy.