Ann: CFOAM Limited Investor Conference Call, page-38

It seems today's info is well represented by Scraper and Dudli/Darshans toing and froing...both sides valid.

IMHO pretty much saying, we're back near square one, with new hope now that Plachas have gone; but 12 mnths wasted, so the market has said we'll speculate a little cheaper this time around. Risk/Reward is still same with one year's failing reflecting higher risk. I'm going to hang on until there's some indication, one way or the other whether a) Navy is little rosier than Scraper believes, or b) commercial contracts start to eventuate for CFoam, I only really thought PFoam was any good for paying our bills while we waited for CFoam to develop, so personally now discounting PFoam form the risk/reward as not going to amount to much in next couple years that count, and waiting for some sign that CFoam really does have bagger potnetial. Risking another 50% drop if it doesn't versus 4+ bags if it does... so therefore requires around a 20% likelihood that CFO/Alain will show us first a pathway and then some conversion in the next 12 mnths. Feels like a reasonable bet for me, which is what it is, a bet.