RE: RE: RE: RE: Q3 Results - $400k profit!These are solid financials and interim grants have advanced the funding line to the end of Sept.
Management remain confident that they will receive more interim funding grants over the next few months that should extend us to Dec 2011.
These include funds from any potential new government grants or contributions from any potential new corporate partnerships.
In addition, Lignol still have about $28 illion from the DOE US$30 million contract related to the construction of a proposed commercial demonstration cellulosic ethanol plant.
Under this award the DOE has contracted an interim amount of US$4.0 million to be obligated to Lignol, of which US$1.9 million hasbeen received as of January 31, 2011.
Receipt of the remaining balanceof the contracted amount is subject to the Company achieving certain milestones including the identification of a suitable site for a viableproject, and ongoing appropriations and funding for the BiorefineryAssistance Program from the US Congress.
The Company is currently exploring with the DOE various options to build the commercial demonstration plant including re-examination of project timelines, sitelocation and the participation of other industrial partners.
Given recent and very successful test results, the probability of forming partnerships with industrial manufacturers can only have been enhanced.
They are pursueing this objective aggressively.