October 2006 - FORM 7 MONTHLY PROGRESS REPORT by dfsdf224s


									FORM 7

Name of CNQ Issuer:         CITRINE HOLDINGS LIMITED                 (the “Issuer”).

Trading Symbol: CTHL

Number of Outstanding Quoted Securities: 14,884,062

Date:    As of October 31st,   2006

Report on Business

1.      During the month of October 2006, the Issuer continued its effort to fund its
        British Columbia based subsidiary, Intellex Technologies Incorporated (“Intellex”)
        (formerly Oakmont Holdings Limited) and Intellex Technologies Incorporated’s
        Barbados subsidiary, Intellex Incorporated (formerly Crystal Investments
        Incorporated) and make a presentation to a venture group in France .

2.      Negotiations for a strategic partnership between Intellex Incorporated and Philip
        J. Caparso, for a strategic partnership, concerning Technology Transfer, have

3.      The Issuer’s CEO has continued to be in contact with prospective investors in
        Intellex Incorporated’s current private placement of up to 3,500,000 Series II, 8%
        Cumulative Convertible Preferred Shares at US$1.00 per share in an amount
        totalling up to US$3,500,000. In this regard, the Issuer’s CEO travelled to France
        to meet with interested Intellex investors and continues to work with them to
        complete the Intellex funding.

4.      Mr. Ken K. M. Chung, of Vancouver, British Columbia, a director of the Issuer
        and the Issuer’s Senior Advisor for Asia, whose services the Issuer has engaged
        to bring into working contact potential Asian acquisition candidates, has
        continued his discussions with prospective Asian acquisition candidates and a
        number of Hong Kong, Taiwan, and mainland based intermediaries. During
        October, Mr. Chung travelled to Asia and continued his efforts to investigate
        project funding for the Intellex Incorporated’s projects.

5.      The Issuer’s CEO worked on his own, and with certain intermediaries, seeking a
        prospective acquisition candidate for the Issuer.

6.      The Issuer is continuing its work in assisting with OnePak, Inc.’s preparation of
        an application for the listing of OnePak, Inc. on the CNQ via the sponsorship of
        Citrine, planned for early January, 2006.

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7.    Earlier this year, the Issuer prepared and submitted a Term Sheet for the
      acquisition and divestiture of a New York company (the “Company”) in the
      business of producing and distributing Hispanic-flavoured, lactose-based, soft
      drinks and has met with the Company multiple times. The Term Sheet, was
      approved, in principle, during June 2006, by both the Issuer’s and the Company’s
      Boards of Directors, and a corporation committing to complete certain funding of
      the transaction (the “Funding Corporation”).           Subsequently, the Funding
      Corporation notified the Issuer that it was unable to fund the transaction and
      accordingly the Term Sheet was negated. During July, the Issuer prepared a
      detailed a Binding Letter of Intent, absent the Funding Corporation’s participation,
      and delivered it to the Company. During October 2006, the parties discontinued
      its discussions and the Issuer withdrew its offer tot the Company..

8.    The Issuer’s CEO and its corporate legal counsel are continuing with plans
      regarding the upcoming spin-off of Intellex Technologies Incorporated.

9.    The Issuer has no new products or services developed or offered during the
10.   The Issuer discontinued no products or services.
11.   The Issuer’s subsidiary, Intellex Technologies Incorporated, has elected François
      Deloche, Esq. or Guadeloupe and Paris, France as a director. Attorney Deloche
      is an international attorney and is working with the CEO on the Intellex funding
      and business development. The Issuer’s subsidiary, Intellex Technologies
      Incorporated, has elected Daniel Deloche, Ph.D., as director and non-executive
      chairman. During his 40 year career with Air Liquide Dr. Deloche he held such
      positions as vice president for research & development, and vice president for
      Aeronautics, Space and Advanced Technologies. He has a doctorate in physics
      from Grenoble University. Dr. Deloche is the father of François Deloche, Esq. *
      (For full biography, see attachment “A”).
12.   Other than that set forth, in 11. above, the Issuer has entered into no new
      business relationships between the Issuer, the Issuer’s affiliates or third parties
      including contracts to supply products or services, joint venture agreements and
      licensing agreements.
13.   No contracts or between the Issuer, the Issuer’s affiliates nor third parties, nor
      cancellation of any financing arrangements, that have been previously
      announced, were terminated.
14.   The Issuer has made no acquisitions, nor dispositions of the Issuer’s assets, that
      occurred during the preceding month.
15.   The Issuer has acquired no new customers nor has it lost customers,
16.   There are no new developments or effects on intangible products such as brand
      names, circulation lists, copyrights, franchises, and licenses, patents, software,

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      subscription lists and trademarks during the period, except as set forth in 2.
17.   The Issuer has had no employee hirings, terminations or lay-offs during the
      preceding month.
18.   The Issuer has had no labour disputes during the preceding month.
19.   The Issuer brought an action against Leschert & Company Law Corporation, a
      Vancouver, British Columbia law firm, and Allen D. Leschert, its attorney principal,
      a member of the British Columbia Law Society, (“Leschert”) for their failure to
      return certain documents and assets of the Issuer, subsequent to Leschert’s
      termination by the Issuer. The Issuer’s CEO and CFO have continued to confer
      with the Issuer’s attorney during September to finalize its trial plans. A trial date
      which had been set for October 17 and 18, 2006 in the Supreme Court of British
      Columbia, has been continued to November 7th, 2007. The Issuer’s attorney is
      proceeding in court to nullify Leschert’s defence due to Leschert failing to answer
      interrogatories as required by the Rules of the Supreme Court and based on
      formal written admissions made by Mr. Leschert in the Supreme Court
20.   The Issuer has incurred no indebtedness, outside the normal course of business,
      nor has there been any indebtedness repaid by the Issuer.
21.   The Issuer has made no loans to or by Related Persons.
22.   The Issuer is unaware of any trends, which are likely to impact the Issuer
      including trends in the Issuer’s market(s) or political/regulatory trends.

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Certificate Of Compliance

The undersigned hereby certifies that:

1.    The undersigned is a director and/or senior officer of the Issuer and has been
      duly authorized by a resolution of the board of directors of the Issuer to sign this
      Certificate of Compliance.

2.    As of the date hereof there were is no material information concerning the Issuer,
      which has not been publicly disclosed.

3.    The undersigned hereby certifies to CNQ that the Issuer is in compliance with the
      requirements of applicable securities legislation (as such term is defined in
      National Instrument 14-101) and all CNQ Requirements (as defined in CNQ
      Policy 1).

4.    All of the information in this Form 7 Monthly Progress Report is true.

Dated November 07, 2006

                                                          Nizar Y. Bharmal

                                                          SS: Nizar Y. Bharmal
                                                          President & Director

Issuer Details                           For Month End            Date of Report
Name of Issuer                                                    YY/MM/D
                                         October 31st 2006
CITRINE HOLDINGS LIMITED                                          2006/11/07
Issuer Address
Suite 1708-1166 Alberni Street
City/Province/Postal Code                Issuer Fax No.           Issuer Telephone No.
                                         (604) 484-4448           (604) 687-3603
Vancouver, B.C. V6E 3Z3
Contact Name                             Contact Position         Contact Telephone No.

NIZAR Y. BHARMAL                         President                (604) 687-3603

Contact Email Address                    Web Site Address
nb_inc@telus.net                         N/A

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Attachment “A”.

Daniel Deloche, PhD. — Chairman and Director

Dr. Deloche retired in 2004 at the culmination of a distinguished 40-year career with Air Liquide,
an international (70 nations) company established in France in 1902 as a supplier of liquefied
gases. At the time of his retirement he was Vice President, Aeronautics, Space and Advanced
Technologies, overseeing such projects as cryogenics for the particle accelerator loop at CERN,
near Geneva, and for the European Space Agency’s Ariane rockets. In the late 1990s he was
made CEO of VitalAir, the French home care subsidiary of the company, while concurrently
serving as General Managing Director of Air Liquide Sante France, medical gas supplier to
French hospitals. In the early 1990s he spent several years in the academic arena as a university
teacher and as chairman of a biological engineering school he created.

Earlier in his career Dr. Deloche progressed from Department Manager for Advanced R&D,
through Director of Planning and Evaluation of Corporate R&D, to Director of Corporate
Industrial Marketing. In 1983 he created the Chicago Research Center, where emphasis was on
food, energy and electronics. And by 1988, as Vice President for R&D, he was in charge of five
Air Liquide R&D centers in three countries. Dr. Deloche holds a Doctorate in Thermodynamics
and Solid State Physics from the University of Grenoble and is a recognized expert in cryogenics
and fuel cells. He is currently engaged in the very satisfying labor of personally producing his
own wine stock, from vine to bottle, on his small vineyard in southwest France.

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