Ann: Placement and Share Purchase Plan, page-12

Kitty,

I understand where you are coming from but the fact is that existing shareholders who own less than 2,114,649 shares are being offered the possibility of a bigger win than newcomers. The others amongst us who own more than that are being disadvantaged by the "max $15,000 no need for prospectus rule".

Given that, at last count ,there were only 207 shareholders out of a total of 3879 who owned more than 100,000 I think the number affected could be counted on ones fingers.

Given that no-one apart from me and a few others were buying shares on market when they were available at this level I don't thing many of the 3800 odd eligible shareholders will come up with the $15,000. If they all did and the company grabbed the $57,000,000 I would be really pissed off.

Having Charles sitting in the boat with those of us exposed to this possible catastrophe gives me confidence that that subscriptions much higher than $750,000 won't be accepted.. I'm really glad he has got skin in the game.