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“ How have they gone through $20 million and still need to refine their process? “

Where do you get this number from? What timeframe was this $20 million spent? You make this statement and do not back it up? $20 M once you take a close look might be very reasonable. I have not worried about the financing. ZEN has been very economical with costs. To a reasonable person, this is not a problem, but to retain your negative position, you’d naturally try to make it one. That is an example of a manufactured piece of deceitfulness. As for the need to refine the process. Are you for real? I worked for 30 years on a processing line and during that time the company continually refined the process to make a better product and to make it more cheaply.

“ Why do the insiders continually decline to purchase shares to support the company? “

Really, that first off is none of my business. I read this argument all the time and more often than not, it is made by an irresponsible person who has no idea what the financial position of the other person is? If I had as many as they do I probably wouldn’t buy more either. However, I do concede that when insiders do purchase it sends a good signal. I’ve done my DD and do not need that kind of hand holding support from insider buying. I know what I own.

“ Why have no end users stepped up with cash? “

Why would you expect them to? I would think they are spending cash to do the testing of the graphite. I think the rational question here is. Did Zenyatta have to pay them to test our graphite?

“ You've heard from 2, I believe, Ballard and Ben Gurion U, which I'm not sure would count as an end user just yet. The other thirty-something have indicated nothing. If things were positive, mention would have been made. Negative reviews would just be shunted aside. And it's been over 3 years for some of these guys.”

Yep!, Only two. But what do you think about the quality of that news from just 2? I think it was outstanding news, not to mention what developments will also come from that news. And you are cringing because we have not heard from the other 30+ who are testing our graphite? If you had some knowledge about what goes on in these labs, you would not be expecting to hear anything. These people do not coffee together to tell each other their secrets.

As for negative reviews, I’m not worried. I am encouraged that they are all asking for more graphite to do more tests. I’m expecting that the reason for wanting more is to explore all the positive ways they can put our graphite to use. If it takes three years to do this, so what? How far has Zenyatta come in the last three years? Now thinking about this excites me to no end. Of course, I like to think on the positive side.

“ I say they're not interested. Who's right? “

This is a free country so you can say what you want. When we find out who is right we’ll both know.

“ you say the price will correct itself and people should hold tight to their shares. How do you know that? Is that something you should be advising people to do? That advice wasn't good for all that time. Why is it good now? “

You are twisting these comments to suit your argument. That is a dishonest practice by my standards. You are quoting my opinion and what I believe. I do not give advice and any sensible person who reads these BB’s should ignore comments made and DO THIER OWN RESEARCH! In due time, we will both know who is right.