Rainer,

It always seems to me to be in the realms of fantasy when one reads too much between the lines of what others say, as much as I love doing so. So one has to be carefully discerning whith the consequences of doing so.

However, in the case of the PTI management team, I am sure they want us to remain upbeat as shareholders, SV made a specific point of saying so, in that he values our commitment. They, I'm sure, want us to know more but clearly have to be understandably tight lipped when matters are classified as 'commercial in confidence'. So for this reason, I think SV by chosing to use a phrase like 'we are marching on', has deliberately chosen what is otherwise a rather clunky, well worn cliche' and I feel therefore that he deliberately wanted to convey the phrases double meaning. In executive speak I think he would normally have used a phrase such as 'making steady progress'.

In consequence, I have a heightened hope of news in March and would not at all be surprised that his apology for not travelling to Brussels citing pressing the pressure of commercial interests and greater value for shareholders, could well be the reason he used such a hackneyed cliché.

On a slightly different tack, I must rather apologetically confess to feeling a little disappointed about the CC. Which whilst it conveyed a very positive sense of progress technically, it did nothing towards convincing me of being anywhere nearer to a NASDAQ listing or give some concept of potential revenue. My curiosity asks why was this deliberately avoided in the when it isclearly at the heart of what we need to know as shareholders, but dissapointingly not a word? Does this mean that we are close to a big revenue announcement? and that hush hush, mums the word process in in play.

My hope is that SV would have wished to announce something more stellar at the CC at the time he chose 16 February 16 as the date for the CC, but some delay made that impossible. The Brussels cancelation and his comments about the unpredictable nature of international buisness all point to this.

Beware of the Ides of March perhaps, but are we going to hear good news in March. Actually I am rather hopeful - March on March!

sula