Our company's cash position on February 28th was $26 million. John McConnell recently informed me that our company's burn rate was $3 million a month. It was further indicated to me that when our company's cash position nears $5 million, we will be close to another stock offering to replenish our cash resources to fund operations for future corporate needs. Unless our company substantially reduces their burn rate, we can expect our company's cash position to drop into the $5 million range sometime within the next month or two. I know that our company would hope that our stock would rise before year-end so they could reduce the amount of dilution that would take place on a stock offering. It doesn't appear to me that our company can complete a bankable feasibility study before they have to come to the market for more money. IMO, there exists a conflict at the present time between potential investors in any private placement and Victoria Gold. Institutional investors, IMO, will be more willing to step up and offer the funds we need before any potential good news is released - such as a bankable feasibility report. IMO, the sooner our company announces another stock offering the better - even though our stock is dirt cheap- I believe our stock's under performance has been significantly impacted because of the uncertainty regarding further stock holder dilution. Once that uncertainty has been alleviated, investors can once again focus on the prospects that our company is actually going to be a gold producer over the next 18 to 24 months.