The other thing K that impressed me and will ring in the ears of institutional investors is the management of funds. Prior to this, and even with the old BOD, we never had a clear indication of where and how much funds were being spent. Now, after only 2 months on the job, they have made a declared effort to reign in expenses and control the burn rate. In these markets, that is very important and this lack of financial control in the past could have cost us some institutional investors. This new, methodical approach to budgeting is a great thing when you are trying to attract the big boys and this alone may lead to higher share prices.

For the record, they have declared that the burn rate which was over 5M per month will now be in the neighbourhood of 2.5M dollars per month and every expenditure will be looked at and more changes may come concerning the burn rate. Nothing wrong with that in this economy!!

Glorieux