"Hi XXXXX.

That's right. No-one knows because it is a process that is different for every company.

We filed the 2005 20F in March 2006 and received back 86 questions. We let the matter rest for over a year as we pondered our options (US listing? Frankfurt? None of the above?) and filed the 2006 20F in March 2008 and the 2007 in May, 2008. We filed all of the 6-K's, set up the market maker who contacted FINRA (anybody can look it up) who contacted the SEC who said they had "outstanding comments", referring to the 86 questions that they had told us in March we didn't need to answer as long as we addressed them in the 2007 20F, which we did. In essence, a third party regulatory agency changed their mind and delayed our submission by 4 months. Tough. We responded to the 86 questions in October and got 32 questions back. We responded to the 32 questions on December 3rd and filed an amendment to the 2007 20F. We received 7 questions back and we responded to those on January 12, 2009. We filed a 2nd amendment to the 2007 20F on February 17, 2009. The required changes are tracked in that document on EDGAR.

We will see if the 2007 20F is approved and, if so, we will file the 2008 20F and the 6-K's.

Once we have a letter of acceptance from the SEC and all of our filings are up to date, we SHOULD be able to register the shares and trade.