The Company's investments in ARW are carried at market value, fluctuations in market value are adjusted on a quarterly basis, and income is recorded at the time dividends are declared or received, if any. ARW has a June 30 year end, issues financial statements twice per year for the Six Months ended December 31 and for the year ended June 30. Quarterly Newsletters are also sent out to shareholders. This information is available on ARW's website under the heading Investor Relations.On August 5, 2013, ARW issued their June 30 2013 Investors Newsletter in which they reported (unaudited figures on which LEC is relying but has not verified, and for which LEC should not be held accountable): "ARfuels expects net profit for the year ending 30 June 2013 to be approximately $2.2 million, subject to audit clearance. This represents a turnaround of more than $9 million on the previous year's result and provides a solid platform for continued earnings growth. The $2.2 million result will be achieved after taking into account approximately $1.6 million of one-off expenses unique to the 2013 year. This result also includes the accounting gain on the derivative (profit) of $1.1 million reported in the 31 December 2012 half-year result." One-off expenses included: capital raising costs ( $500k), a foreign exchange reserve relating to previous years written off ( $500k), some historical bad debt write-offs, the full impact of the fire at Largs Bay including the carrying costs of staff and other overheads, and additional training and maintenance costs for the Picton and Largs Bay plants as we brought those plants back on line to meet export orders. LEC Financial Results For the three month period ended April 30, 2013 ("Q4 FY13"), the Company reported a net loss of $1.6 million, or $0.01 per share (basic and fully diluted) compared to a net loss of $0.4 million or $0.02 per share (basic and fully diluted) for the three month period ended April 30, 2012 ("Q4 FY12"). The $1.2 million increase in the net loss for the current period was due to an increase in research and development expenses of $0.2 million, increased operating costs of $1.3 million arising from increased professional, strategic advisory, and legal fees related to the various financings and acquisition transactions and related costs, a decrease in government and corporate contributions of $0.2 million, offset by the other gain of $0.5 million. The other (non-cash) gain related to the acquisition of addition ARW shares during the quarter. LEC Going Concern The Company entered into a secured credit facility of $5 million in February 2013, which was amended on July 9, 2013 for up to $6.25 million (the "Amended Loan"), and this was replaced with a new secured revolving credit facility with Difference Capital Financial Inc. ("DCF") for up to $12.5 million in August 2013 (as further described in Notes 10 and 24 to the Consolidated Financial Statements). A total of $5 million had been drawn on the credit facility as of April 30, 2013; and by August 28, 2013 a total of $9.75 million had been drawn down. LEC currently forecasts that its working capital requirements for the next twelve months may exceed the combination of its current working capital, and those funds which are expected to be received in the future under its revolving secured credit facility and those funds which are expected to be received in the future from LIL's existing government grants and corporate relationships. The ability of LEC to continue as a going concern is dependent upon its ability to continue to fund its business objectives and to be able to repay amounts drawn under the DCF credit facility. There can be no assurance that LEC will be able to obtain further financing on favourable terms and in such event, LEC's working capital may not be sufficient to meet its stated business objectives.