Ann: Half Yearly Report and Accounts, page-7

I'm only guessing but ... no. I think by the time they make profit their cash will be around $3 or 4 million and if there shareprice is higher it makes sense to have a CR to accelerate the next stage of growth. im basing this view on what ive seen several other companies do in the same position. We investors tend to be negative on CRs because they dilute our holdings, but in my experience if a CR is done strategically for the right reasons it serves only -- after some initial bumps -- to add value to the company and inflate the stock price. In the end, that's all matters. Not how many shares are out there, but how much the company and your shares are worth. My views only. DYOR.