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TRCPA

07/14/05 9:01 AM

#10354 RE: Jagman #10351

Given all of the KDS and projects in place, it could happen at any time, in my opinion.

Might be a Japanese licensing agreement, HAL contract/additional contracts, multiple Malaysian power plants online, more SE Asia power plants in surrounding countries, a big poultry waste to energy deal in the U.S., new technology from U of Tenn/Oak Ridge, outgrowth of WRAP technology at Aylesford Newsprint, an outgrowth of Eastern European sales from Firma Codogni, additional AGES deals stemming from Flakeboard, etc., etc.

One of the primary reasons I have been a long and continue to be one is that FASC/KDS is not dependent on any one or two events. There are a vast number of places in which FASC can develop quickly, some of the above to name a few.

I can understand some wanting to wait if/until the market bids it up much higher.

I prefer a different approach, when it comes to a company like this.