Sales revenues continue to grow, with the recently ended third quarter being the strongest yet in production and shipment of our ceramic substrate product. Revenues were up approximately 100% from the comparable quarter in 2003, and as has been the case of the past three quarters, Cetek continues to operate profitably.

Cetek welcomed 35 shareholders of the company on September 8th to the annual shareholder meeting, held at the Stratosphere Tower in Las Vegas. A quorum representing over fifty percent of the outstanding common stock was present, either in person or by proxy. One new member of the Board of Directors was elected, Mr. Gabriel Cohen; and four board members were re-elected: Dr. Gordon R. Love, Dr. Richard M. Spriggs, Fayiz Hilal, and John Hilal.

As stated previously in past updates, and at this past summer's shareholder meeting, we expect no reverse stock split to occur for Cetek common shares.

Operationally, demand for Cetek's proprietary ceramic material is increasing as never before, and additional production capacity is needed, so as to get positioned ahead of the current, and future, production increases. One solution, as presented in past status reports, is to acquire one or more existing companies that are in a similar infrastructure as what Cetek's requirements demand. We are indeed continuing to qualify and negotiate with candidate companies, and will strive to accomplish such suitable objectives as quickly as possible, without jeopardizing any particular opportunity by announcing prematurely any specific information in this regard.

Cetek is developing a new marketing plan that includes the launching of a new division called "The Ceramic Store." This will be an Internet-based business serving as an online outlet for ceramic thus responding to the needs of researchers and other engineers where demand is often for low quantities, and where order flow may not be consistent. We expect "The Ceramic Store" to be operational by the end of the year. Additionally, the present homepage at www.cetektechnologies.com will be upgraded, making it more "search engine friendly" and accessible to a greater audience of potential customers.

Cetek Technologies is exploring the potential use of the company's ceramics in fuel cells, as this is an example of another growing industry wherein high grade ceramic material has future commercial application. The ability for the Company to produce ceramic plates in very large pieces places Cetek in a very promising position in this, and other, industries going forward.

From the Company's inception, Cetek has focused on building a company with solid fundamentals, with superior, state-of-the-art ceramic technology. The past many years of formulating, testing and proto-typing have brought Cetek to where it is now -- producing and marketing proprietary ceramic materials for an ever-growing client base.

We could not be where we are today had it not been for the investing public, over the years. As the saying goes, "Rome was not built in a day." We are making good progress, each quarter, towards our corporate objectives, this is for certain. In closing, I thank all shareholders for their continuous support, as we strive to build shareholder value for all of our stockholders, both recent and seasoned. The best is yet to come!

Respectfully submitted,