Ann: Appendix 3B , page-2

Wow, these guys continue to amaze me with how they are running this company. Staggering that they are allowed to run any business, let alone a listed company.

A few points out of the 3B:

* Have not yet completed the Sophisticated Investor raising, part 1, which I was under the impression that they had...?
* No further updates on the SPP, part from the extension. Clearly this is struggling, and little wonder.
* Brokers earned a 6% commission PLUS 1 for 2 options, creating huge potential costs and dilution. Who in their right mind would do this, if not completely desperate...?

This process seems to be falling into the farcical category. I wonder what their 4C will look like because they have to be running out of cash soon.

By the way, anyone noticed how they have fallen into the habit of putting out their 'bad news' after market and mostly on a Friday... !!? Clearly they are not confident in what they are doing and are trying to 'disguise' it as much as possible. Not a good sign re open and honest management.

This one is heading for the dustbin at a rapid pace. Time to consider new management, other capital initiatives or some such or it may well cease to exist in the way we know it in the next 6-12 mths.