Ann: Meeting documents and SPP offer document, page-4

Good opportunity to reduce the average price of my holdings. The public placement is only 15% of the approx $7mn to be raised. $6mn private placement is now committed to. With future announcements of distributors in europe, canada and japan to look forward too and sales data and trial evaluations in usa and australia to flow through over the next 12 months, I cant see the SP going south of 45c for any considerable period of time. I guess the SP will have an anchor attached until results flow through that show the company is on track to be cash flow positive by Jan 2016 in 18 months. If not another capital raising may be required next year.