Genew I would normally allow your opinion slide but in this case I would like to add..........throughout my working life I spent many hours preparing public company f/s and writing, editing and submitting quarterly reports for filing.

Having presented these reports to various audit committees and boards of directors, I would be very surprised if there were any intent to skew the facts as you might suggest. The way in which the "report was presented to shareholders" was and is quite consistent with any other MD&A. They are molded by guidelines that, as FJ suggested, take the precautionary position thus avoiding any backlash or possible litigation from shareholders or potential shareholders.

Understand that these reports are used by investors, prospective shareholders, analysts etc to make investment decisions. As a result, they will not be sugar-coated whatsoever. The potential downside of that would be far greater than having traders run the SP down $0.03 like they did on Friday.

All is good, I believe management has their head in the game, the priorities are aligned we all should pay more attention to technical progress rather than the vanilla quarterly reports at this stage. Once revenue starts and the business evolves into the next phase in the life cycle, that's when we should pay more attention to the quarterly reports and the financial results.

Hogan