We have now done thousands of runs with MO. These runs, and data collection, are now fully automated.

This is the first test motor for WheelTug®, though it is usable for all sorts of other applications.

We should soon have our data management to the point where the entire evaluation of the runs is also automated.

Other engineering work is getting seriously underway to build WheelTug.

Negotiations continue world wide with many major players on many facets of WheelTug.

We are in world wide negotiations with several large name players over many aspects of the wide ranging business.

We do hope to soon get the preliminary data from the GSC work from last summer. This summer's work is being planned and we do want to do a very specific detailed program. A large team is already scheduled to be working our area of Melville Peninsula. We have what is probably the most interesting unproven polymetallic geological structure on the planet. We have held this structure for many decades.

It is nice to have third party work justify our decision to hold this property for as many years as we have.

http://www.bloomberg.com/apps/cbuilder?ticker1=TSIPIO62%3AIND shows
US$134.50 (2 March 2010).

The market continues to look good.

For 25 February 2010 through 3 March 2010

Company
= Symbol = High === Low == Last = Change == Volume === Bid == Ask

Borealis Exploration Limited
. BOREF . $2.75 . $2.70 . $2.75 . . .n/c . ..3,000 . $2.70 . $2.75

Chorus Motors plc
. CHOMF . did not trade . $3.00 . . .... . ......0 . .n/a. . .n/a.

Cool Chips plc
. COLCF . did not trade . $0.13 . . .... . ......0 . $0.14 . $0.25

Power Chips plc
. PWCHF . did not trade . $1.40 . . .... . ......0 . .n/a. . $2.00

Roche Bay plc
. RCHBF . did not trade . $0.02 . . .... . ......0 . $0.011. .n/a.

n/a = not available

Advanced Explorations Inc. (Joint Venture with Roche Bay)
TSX:AXI .C$0.190 .C$0.150 .C$0.175 - 0.005 ..669,333 .C$0.175 .C$0.185
FWB:AE6 .EU0.129 .EU0.117 .EU0.129 + 0.011 ..162,000 . . .n/a . . .n/a
Xtr:AE6 . . did not trade .EU0.085 . ..... ........0 . . .n/a . . .n/a

We are buyers of many of our shares though we do not make a market in any of our shares. If you wish to sell any of our shares privately please e-mail us at exec@borealis.gi so we can give you a bid. We are now privately buying Borealis shares at US $2/share. We do net transactions with no commissions.

If you wish to sell any shares on the market, except Borealis, your broker can contact UBS and they will give a nominal bid for basically any number of shares. Any troubles with this contact us at exec@borealis.com and we will buy direct with no commissions.

There is serious trading in Frankfurt AE6 and in Toronto on AXI.

Approximate market value of the BOREF, CHOMF, PWCHF, COLCF and RCHBF at last sale prices or bid whichever is higher on 3 March 2010:

US$ 45 million

The approximate value of all our companies issued and outstanding shares, both public and private at the last actual cash sale price is approximately US$240 million. If one adds the sales of shares that are currently under negotiation at the current discussed sale prices, this number is in excess of US$360 million.

Our technologies are attracting serious foreign interest. We have some interest from the US, but it does not hold a candle to the foreign players.

I guess everybody in the investment business have just gotten too many good deals-banks get to borrow at 0% and lend to the government at 3%. How is that for easy money, off budget, and nobody complains? Everybody gets to take a swipe at the EURO, which is totally fair ball, as the EURO is a disaster waiting to happen. Again,almost instant gratification, though if the US Government has its way the US$ may actually plunge faster in value than the EURO. The thing that saves the US dollar is that the US is not yet totally committed to becoming a welfare state, while the EURO has structural problems that means it will fail. It is just a question of when.

Anyway, there is hungry, smart and driven capital, both physical, technical and financial, that wants to do things while the 'smart boys' in Silicon Valley, among other 'smart' US Players look at their navels. I guess if you have enough money, looking at your navel is probably very safe, especially as investing money can be risky and costly. Why take risks?

When and if we get done what we are doing, a lot of American Industry may end up being very surprised. Mind you, our technology is owned by a foreign company domiciled in a foreign country and has been basically developed offshore.

The US is shipping its technology offshore: just look at Boeing and the 787. Much of this particular technology transfer has been a disaster as the countries and the companies could not handle the work. Boeing is bringing some of the work back to the US, but Boeing has and will continue to fire and retire out the technical people that made Boeing great while not attempting to even bothering to train new engineering talent in the US.

Let us hope the US does not grow into a nanny state. If Boeing cannot get it right, I can assure you that the US Government has no chance in getting anything right in the command and control economy that much of the Executive and legislative branches of the US Government seem to want.

If you cannot run the Post Office, how can you run General Motors or the health system in the US?

We hope everybody had a great Purim, We sure did.

Good Shabbos

rtc
iwc

  

    

      
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The discussion of the Company’s business and operations in this report includes in several instances forward-looking statements, which are based upon management’s good faith assumptions relating to the financial, market, operating and other relevant environments that will exist and affect the Company’s business and operations in the future.  No assurance can be made that the assumptions upon which management based its forward-looking statements will prove to be correct, or that the Company’s business and operations will not be affected in any substantial manner by other factors not currently foreseeable by management or beyond the Company’s control.

All forward-looking statements involve risks and uncertainty, including those described in this report, and such statements shall be deemed in the future to be modified in their entirety by the Company’s public pronouncements, including those contained in all future reports and other documents filed by the Company with the relevant Securities Commissions.

Wheeltug and Chorus are Registered Trade Marks of Borealis Technical Limited