Ann: Appendix 4D & Half-Yearly Report , page-2

Must admit I was getting a bit nervous with the delay in the half yearly until after market close.

Thankfully nothing of great concern.

When comparing to Devember 4C cash position $100k odd different. This might be because of the $160k rent dispute which may have seen a re-classification of rental bond from cash equivalent to being retained by land lord.

Medivet result only for last 20 days of year which is probably slow period so can't read to much into the result.

At time of Dec 4C the cash was higher than I thought but this is explained by Moneytech Receivables financing facility still having balance of 488k to be run down. I think this will impact negatively on first quarter cash flows and will need to be backed out when determining underlying cash flows.

I was a bit surprised in loans in Medivet of around net $300k but would need to check offer document as I may have overlooked this.

Management has re confirmed that trading income positive since acquisition which is good sign.

In all no real surprises.

DYOR, IMHO etc