Ann: Projects Update , page-3

Well, while the news is positive in general, I think it foreshadows further delays. On 07/12/2012 HAZ announced >50% feedstock had been ordered. 1 1/2 months later the figure has grown to ~75% (which obviously means less than 75%). So it took them 1 1/2 months to order <1/4 of the feedstock needed to get the plant going. At this rate they would miss their timeline again since 100% of the stuff would have been ORDERED not before March and it would certainly take a few more weeks for it to arrive on site. I expect them to miss the March quarter first product delivery target.