Ann: Response to ASX Query, page-4

I must say this additional cap raise troubles me a little (lot). I thought the recaptilisation was to ensure suffienct funding through to cash flow positive... so with things having looked to me like they were proceeding ahead of expectations since then I can’t fathom all of the initial restructuring capital options aren’t enough. Obviously my maths on what a license is worth is way off? A low cost partner sales channel model + a shite load of capital options in the restructure + 168 businesses signing agreements to buy an expected 12k licenses.... does not equal another 4.5m capital raise required. Something not adding up here.