"I am sure you are all aware that the company is currently cease traded due to the Company's inability to file its annual financials in a timely manner.

The main reason being the decisions by the company to completely overhaul the internal financial recording and reporting process including the change of auditor. During this process the Company has experienced delays from various sources in obtaining certain financial information related to the July 2009 fiscal year. Thankfully, at this time, all material financial information has been obtained and recorded. The Company's auditors are now finalizing their field work and are getting closer to completing the audit.

I can assure you that as much as this must have been and remains frustrating to the majority of you, it is even more so for the board and the company's officers. Needless to say, the decision to overhaul was not taken lightly. If this company was going to be in a position to refinance and to become a viable entity these steps were necessary.

I am pleased to report that we are now in the final throws of preparation prior to filing and an announcement will be made soon."