Biomass Secure Power Inc. (BMSPF)

[PhillipD]

MD&A is out on sedar.com... Here's the scoop...

"The Company has delayed ground breaking ceremony as cost estimate to build phase 1 came in far in
excess of preliminary budget. The Company along with EPC made the decision to defer some of the
scope of phase 1 into phase 2. Two of the major suppliers have been asked to resubmit budget using
new scope. We have heard back from one with a price reduction of approximately $15 million. We expect
to have second number in next couple of weeks which will allow us to proceed with current funding."