Ann: Quarterly Activities Report and Appendix 4C, page-11

They started selling algae 5 months ago. I dont believe for a second that these are the real figures for sales. 

There is no mention of the biofuel, no mention of progress with south american company for aqua feed, no mention of progress with the sydney based nutracutical company and no mention about 4.3 million dollars recievable and trade goods. These were all mentioned in the June quater, and to not adress these now is a disgrace on behalf of AEB.  

However, the positive side is that they have increased the output of algae by 100% in the same tank. This is excellent news as they have been working on it for the last 2 and a half years. This means that from 65 tonnes per annum they can increse the production to 130 tonnes per annum. With todays price 130 tonnes of algae is equivalent to 15 million dollars, the figures released by AEB. Aurora, the canadian medical marijuana comany has been mentioned in the last quater as well as this quater, and I beleive something is going on with this company. In the March quater they mentioned that they were going too recieve 800k from the Indian reliance company. This has not been revieved yet and the reliance has been waititng for the doubling of output without any extra cost which the company has now achieved.

They have 11 tonnes of algae worth 1.5 million on the floor which AEB mentioned in last quater is worth 130k per tonne. They have 100kg hemp medical marijuana oil worth 3 million on the floor. They have nearly 1 million dollars to come from the reliance. These are facts on the floor, this is not fiction. Therefore their is plenty of money to come in the December quater.  I dont know why they don't mention all this things in one big statement, rather than the small updates we have been recieving. 

If I dont post anymore I wish everyone a very merry and festive christmas season. 

Emilio.