Ann: Responses to ASX Queries, page-5

No, not very good answers, so more being demanded by ASX.

You have to love the following exchange:

"ASX notes that to several of ASX’s queries, MED responded:

“The Company does not have access to financial information of AXIS. From a search of AXIS, AXIS is not a reporting entity. Accordingly on a conservative basis, the Company has provided for the loan as a doubtful debt.”

ASX notes that whereas Mr. MZ Gutnick signed the loan agreement on behalf of MED and Mr Peter Lee signed the loan agreement on behalf of AXIS, both Mr MZ Gutnick and Mr Lee are each a director or employee of MED and AXIS. Further, the loan agreement states that both MED and AXIS are registered at the same address at Level 1A, 42 Moray Street, Southbank. ASX’s interpretation is that MED and AXIS are related parties."

The ASX is no slouch!