Biomass Secure Power Inc. (BMSPF)

[PhillipD]

Latest MD&A is out on Sedar. Not too much new, but a couple of quotes that I gleaned from it . . .

An off-take agreement for 200,000 tonne per year for 20 years is in place and will produce annual income in excess of $40 million. The balance of production will be sold to several companies that have expressed a strong interest in our product. Once phase one of Natchitoches is in production the Company believes that orders for several million tonnes of biocoal will be received and require several plants to be constructed to meet demand.

Expenses associated with the engineering and construction of Natchitoches are anticipated in the current year. These development costs are included in the construction budget and are payable from the package of loans advanced against plant construction and a bankable end user agreement. These anticipated costs are not included in the above expenses.

Phillip