Meanwhile, investment in research and development increased year-over-year to $US241,000 from $US178,000 for the quarter ended June 30, 2003. The increases relate to added personnel and current product development activity costs in our departments for both Extreme and Derwent for REG-ALERT(TM) software and many new product development initiatives. Research and development is an important component for continued growth for Extreme. The company’s cash position at June 30, 2004 was $US4.0 million as compared to $US4.1 million as at the company’s fiscal year end of September 30, 2003.
