Ann: Half Yearly Report and Accounts, page-4

With 5.3 mil in the kitty and a cash burn of about 1.5mil. And a demo plant to build costing between 10 and 15mil. There is a massive cash shortfall. To raise 10mil when the sp is languishing at 25c providing a premium to participants means lots of shares to degrade current holdings. Likely 50mil (give or take) of them, if a raise was done now..

One thing I do remember from my conversation with Geoff Ward at Techknow, is that he didn’t mind going into debt.. given that they don’t have a lot of collateral to offer lenders..... except for patents.

I am wondering if this is the current game plan, knowing that there was another patent approved yesterday pending the removal of a postponement by hazer.

Without some form of income or a way to create income hazer unfortunately will languish at these lower levels with no buying pressure. This on a company that still seems to have a long way to go before $ are made.

As I have said many times, Mr Ward. Partnership deals where someone else pays for a scaled up FBR is the way to go, (FBR’s love to be scaled up, as Andrew Harris and Andrew Cornegio told me) profit share, royalties, whatever, cause if hazer keeps dropping someone will pick this idea up in a firesale, paying 10c in the dollar for the value of the patents.

Many companies have tried to go it alone.. and as a wise man told me once. Many great ideas have fallen by the wayside due to bad management decisions.

Thanks @Sewell.