tz 2008 annual report, page-6

sure is regurgitive....seemed to be a lot of copy & pasting

Given mgt stated at the agm 11mths ago they were targeting shotr-cycle industrial segments 6-12mths and are still chanting the same "a major emphasis was placed on accelerating products targeted at shorter-cycle industrial segemnts"....so therfore we must be nearing some PO's

work in process of $56k implies not much happening by way of orders.

Sales 2008 $14,972,846, 2007 $15,864,633

Trade debtors 2008 $2,365,060, 2007 $2,655,640
Sundry debtors 2008 $6,853,133, 2007 $5,857,106 Total Receivables 2008 $9,218,193 (61.57%)
Receivables 2007 $8,512,746 (53.66%)
yet following statement says most receivables are paid withing 60 days...just doesn't add up....hope there's not a sizable bad debt in there.....any thoughts from our sophistocated HC beancounters are very welcome

Under Liquidity Risk...states "It is anticipated that the convertable note holder will convert the convertable notes into shares unter the terms and conditions of their issue"
therefore dilution is inevitable

Cheers
G