Ann: Chairman's address , page-6

A response was given to the motion to approve remuneration:

"I intend to vote against the adoption of the remuneration report. The current management team has failed to develop a successful commercial manufacturing process in the five years that this company has been incorporated. I believe this company should be immediately placed in receivership before it is too late, in order to give the receivers the possibility of finding and appointing a team who might be able to turn the company around. I therefore intend to vote against the adoption of the remuneration report on the basis that the leadership should be given no remuneration and for the benefit of the company, should immediately step down."

The vote was taken. around 8 in favour of adopting the remuneration, 4 against.

The whole thing was quite interesting to watch. No matter what negative things were said, either a buddy of the board diverted the questions to harmless but seemingly penetrating questions about finances or the general shareholders started making suggestions as to how things might be fixed up. Hope runs eternal I guess!