timely letter again, page-8

The cash reserves are not reflective of the capital raisings that have already occurred. The convertible note issued in October has a 1.5c option attached to it which based on my reading of the agm notice and convertible note notice must expire in April. The convertible note holders would be crazy not to exercise their options and another $1.8m will be injected in the company.

I agree with blokes that the big carrrot is to get the 7c options into the money. I believe this is achievable.

We as shareholders have to be more patient if we are to reap the rewards of this innovative product. The new guys have only been in since September / October. This is not a lot of time to debottle manufacturing issues and see real dollars come in the door from sales. We have another 6 months before we will see any real results.