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Message: Titanium contract Asia Status

Greenmountainman,

That makes sense now.

I am happy to report that this contract does not appear in our backlog, and is in fact one of the contracts I referred to that was not included in backlog.

We consider backlog to be signed contracts that have no obvious impediments to moving forward.  As such, the contract you are mentioning does not warrant inclusion under our strict definition of backlog.  In short, all of our backlog is comprised of signed contracts, but not all of our signed contracts are in backlog.

Hope that answers your question,

Sincerely,

Peter

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