General On 26 July 2016 the Company announced it had implemented...

1. General
   
   On 26 July 2016 the Company announced it had implemented a new design optimisation review process with respect to further deployments of the Company’s ProteanTM WECs. As the Company proceeds towards the front end engineering design stage necessary for commercialisation of the ProteanTM WECs it was agreed to terminate the Company’s contracts with Sean Moore and Moore Commerce Pty Ltd (Moore Commerce) for consideration of $350,000 and the issue of 40 million ordinary shares (Moore Commerce Shares).
   I did say this before, but can't help but say it again,
   Moore Commerce was paid $450,000 for a 30 unit array to be deployed as a trial, it never happened.
   So in reality Moore Commerce is getting $800,000 for non delivery of the array,
   Astounds me!!!!