you must be joking SBI know this industry, I have been involved...

you must be joking SB

I know this industry, I have been involved in it

What I suggest to anyone who owns shares in this company is they carefully examine the last 6 monthly accounts, the liquidity position , the liquid asset position , the inventory build up

read the last cash flow very carefully

quality control issues have damaged their market

inflationary pressures in China are squeezing margins

June 08 sales are not yet in the "ordered expected"status. unusual since by 28 April should have a clear orderbook 60 days out . Most large buyers would have committed their orders for June

their prized "bamboo plantation" designed to reduce COGS by 30% and secure supply has been substantially destroyed and will take " 3 to 5 years" to recover. so where do they get the raw materials from now?. DO they pay more as they compete. More Margin pressure!

they have consistently failed to deliver, bigtime

they are cash flow negative

they have significant current and non current liabilties
at 31/12/07 around $8million in current liabilities. Current cash now $3million. $ 6 million in inventory at 31/12/07. Thats a lot in inventory! Equivalent to around 300,00sqm flooring

convertible note holders might get edgy. what are the terms of the note, are then any liquidity events or corporate stress triggers

US housing market in freefall, UK market in freefall. Who is buying this stuff?

thus my strong advice to sell