tox valuation, page-10

re: my valuation is 9-10c Yep and they have accumulated tax losses of just over $14 mil as at 31/12/04 less the $1.4m profit for the 6 months of this year, which gives another $12.6 profit free tax!

This will put much less strain on their resources in the short to medium term and accordingly will allow TOX to incur more capital expenditure and wipe off any other long term debt.

This should ensure long term profitability is achieved.

Cheers