said March 29 thatit expects to raise gross proceeds of US$3.5 million from the company's underwrittenpublic offering of 10,000,000 shares of its common stock priced at 35 cents apiece.

Underwritershave a 45-day option to purchase up to 1,500,000 additional shares of common stockto cover overallotments, if any.

The offeringis being made pursuant to an effective shelf registration statement which the companyfiled with the U.S. SEC.

The offeringwill close March 31.