Such non-cash impairment charge has been taken to comply with accounting requirements and does not reflect the Company's continuing strong belief in the project, its commercial prospects and the likelihood of the receipt of the Permit.

I can't recall seeing this strong a statement regarding the permit. I think the change in the wording is telling. Could this be part of what we were supposed to notice? ...Then there's the following......

the Company received a $2,500 loan from a potential

strategic investor.

........seems to me that this is just a legal move to establish some legalities concerning the relationship with this 'strategic investor'. It certainly isn't an amount that they would have had to borrow. Would I be right in this, you legal beagles?

Pen