Zhongde Waste Adr (PINK:ZWTYY)

"Our plan for 2008 is mainly the continuation of the plan for 2007. The plan includes both expansion and improvement of our efficiency and cost competitiveness. This includes the formation of branch offices in other cities in China. These branches will rent office space in existing buildings. We will determine how many offices to open based upon how much working capital we have at the time when we begin to open new offices. Management will determine in which cities we will form branch offices. We believe that this will greatly enhance the level of service that we provide to our customers in China and further expand our market share in the marine insurance business. Both the extent to which we are able to implement this plan of operations and the timing of its implementation will depend, largely, on the availability of working capital, which we may not have or be able to raise. Because there is no assurance that working capital will be available to us, there is also no assurance regarding the extent to which we will be able to implement our plan of operations within the foreseeable future.



Both the extent to which we are able to implement this plan of operations and the timing of its implementation will depend, largely, on the availability of working capital, which we may not have or be able to raise."

(source: 10k for period ended 2007)

so seems likely they may have to raise capital .