Ann: Chairman's address , page-5

A question was asked at the AGM:

"As the consequences of the company’s failure to develop a commercial manufacturing process become more and more apparent, can you outline any steps the company has taken to develop an alternative system to the failed press rolling and microwave drying process that was outlined in the company’s prospectus?"

The answer was of course “there is nothing wrong with the process we have. The only problem is labour costs.” they went on to say that they would be fine as soon as the machine from Walkamin was set up and operational in Egypt.

Ted Byrt also said “If we had another 12 million dollars we would be fine!”

No Ted, you would have just wasted 12 million more dollars and come up with 50 more excuses.