Take some time and re-examine the list of talented persons who make up the senior officers and directors of this company. If you truly believe in "green technology" then these persons have the talent to make something happen. IMO, todays NR points only to a bump in the road. People can interpret this NR and panic or you can reflect a bit about what is actually happening and that, I believe, is taking the opportunity when the market is slow, to reorganize.

I find it reassuring that in the news release Jason Bak, CEO states, "Market conditions for small cap companies have been difficult with the recent subprime mortgage meltdown and subsequent impacts. We are currently assessing the optimal route for financing in these conditions, with a view to avoiding undue shareholder dilution. In the meantime, we are working diligently to determine the best way to meet our financial obligations and milestones through the development of the Company's assets."

Stating that they want to avoid shareholder dilution is a good sign, in my opinion. But, even if they were to issue a PP at $0.25 that's only about 20 million shares to cover the working capital deficiency. The problem is selling it in todays market.

Also stated is an alternative to equity financing at this time, "As an alternative, the Company is in discussion with third parties to provide appropriate capital to enable the Company to continue operations until market conditions improve."

Essentially, the alternative is debt financing based upon the existing assets of the company. Examining the Nov. 30, 2007 interim financial report on SEDAR they show about $6M in assets after the Aquabuoy write off.

So, if management decides to go for debt financing until the market improves it makes sense to me.  Maybe this is a buying opportunity because this doesn't sound like a company that is willing to quit just yet.

BGT