NNRF Inc (NNRI)

[Batscam]

The O/S was 27M last year and the float was 3M.

The O/S is over 45M now and the float is ~17M.

The loss per share last year was ~0.45 and this year ~0.35, do the math.

Where will NNRI get the $2M cash they need to put into Atoll next year?

Do you really expect Atoll to provide $20M in profit next year?

If they only do 80% of 2007 what will the equity be? Think about it.

NNRF does not hold any fixed assets. They just hold virtual Atoll stock certificates. I hope they don't drop 95% in value like some other stocks we know.

Pipe dreams and pipe financing, they go hand in hand.