Ann: Chairmans Letter/Notice of Annual General Meeting/Proxy Form, page-4

I would accept the directors request without reserve had they made some progress during the past year. The SP suggests not. Check out the one year chart.

I'm a director of a public company. Our board only accept payment in the form of options to purchase shares in the future at the same price that we asked investors to pay to invest in the technology. In other words if we cant make money for them we will receive no pay.

Note that RLE have issued shareholders bonus options to shareholders.