Ann: Prospectus for Non-Renounceable Pro-Rata Rights Issue, page-4

Looks like they are Venture Capitalists

- Mac Equity Partners (“MEP”) is a boutique investment and corporate advisory firm located in Nedlands, Perth. MEP has been established specifically to service emerging companies, wholesale clients and experienced/sophisticated investors. In addition to their representatives in Perth, MEP is connected with consultants located in New York, Los Angeles, the United Kingdom and Singapore.

- MEP’s Project Evaluation Team has extensive experience in identifying and evaluating both early stage private projects and undervalued/underperforming public companies. In addition, MEP’s network in Australia and overseas assist to identify opportunities and to provide additional skills and resources where their expertise and/or location of operation can add value.

- Once a project is identified that fits our investment criteria, we undertake due diligence to isolate the strengths and weaknesses of the project, to ascertain how the company can be improved and assisted to obtain finance.

- In order to align our interests with those of our project clients and high net worth investors, MEP prefers to take our fees as equity wherever possible and look to co-invest with our clients.