Ann: Quarterly Activities Report, page-7

“It is the Board’s policy that employment agreements are entered into with all executive directors, executives and employees. No current employment contracts contain early termination clauses. All non-executive directors have contracts of employment.

Stephen Bizzell is engaged as Executive Chairman. His agreement is a consultancy style agreement for the provision of services. Services are invoiced at a weekly rate of $2,320.

Paul Marshall is engaged as Company Secretary and CFO. His agreement is a consultancy style agreement for the provision of services. Services are invoiced at a weekly rate of $2,500.”

Do the math, there’s a lot of weeks of pay going on here for little or no result. Furthermore, when the wet seasons hit, the consultants don’t get paid to sit around.