Ann: Response to ASX Query Letter, page-96

....and your point is ?

I would have thought it is quite obvious when the vended securities were issued and the cleansing statement disclosed in the announcement of 24-08. Following this it is clear that some of the securities were sold into the market - while others were in fact as we now know transferred. An this is how we got to the 04 cent closing price before suspension. Not really rocket science and not anything I would have not had expected.

I was more surprised at the Sub notices and the want or need to take up these holdings for perhaps a longer period of time. Make what you will of this folks , however my guess is it would have been a positive for most of us at some point - as at least one of the projects were advanced and solid ........