At September 30, 2003, we had cash and cash equivalents of $380,483. Other than cash and cash equivalents and accounts receivable, we have no material unused sources of liquidity at this time. We have no material commitments for capital expenditures or resources. Based on our cash position assuming (a) continuation of existing OEM arrangements, and (b) currently planned expenditures and level of operation, we believe we will require approximately $800,000 of additional funds for the next twelve months of operations plus amounts required to make payments on the 15% Unsecured Note in the approximate amount of $600,000. However, actual results could differ significantly from management plans. We believe we may be able to obtain additional funds from future product margins
from branded and OEM product sales but actual future margins to be realized, if any, and the timing of shipments and the amount and quantities of shipments, orders and reorders are subject to many factors and risks, many outside our control.
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