During the quarter, the Company continued its plan to simplify the organization, reduce costs and focus the Company's resources on its investment in EEStor, Inc. The Company has been aligning its expenditures with the pace of development of EEStor power storage technologies. James Kofman, Chairman and Interim Chief Executive Officer of ZENN commented, "The Company has gone through some tough but necessary changes over the past few months. We have reduced personnel and significantly reduced the cash burn rate going forward. At the same time we have worked hard to build on our relationship with EEStor. The Company has ceased expenditures on the development of technology complimentary to EEStor's work and will evaluate future expenditures as and when developments occur at EEStor." Mr Kofman added, "We recognize shareholders are looking for updates on the progress at EEStor. As previously noted, our technology agreement precludes us from making announcements on new developments in advance of any official release by EEStor. We are in constant contact with our EEStor partners and are committed to the timely release of material developments, as soon as they occur."

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