Ann: Update & Withdrawal of Member Requisition, page-18

Please everyone go to ASIC again

We are being restructured and for the last 8 months had an emergency Board situation with NO INDEPENDENT DIRECTORS and were in suspension @.9 cents.

This Board spent excessively in this period even though the company had no money...compare the Admin and Corporate costs to similar organisations. Also look at the huge wages bill

In this time period they also issued loans at very generous terms...12.5% interest. conversion @.44 cents PLUS 20% on top of that to be taken as cash or more shares to others and shareholders did not have a clue who these new Note holders are

Now we are now told that the CEO/Chairman did not take a salary and the company owes him over $1m. What did he take in expenses and Director fees.....could be massive amounts but we will never know and restructuring will cover up all this.

No financials available, no AGM, non compliant Board, no disclosure...we know nothing about what has ACTUALLY happened in the last 8 months. Because the company is in suspension this Board have used this excuse to treat CTL like their own private company and spend shareholders money excessively and without any accountability and then expect to walk away with masses of shares in the new organisation.

If you have not gone to ASIC now is the time to do so

Also those who received a response from ASIC...Not in the Interests of the Wider Community. probably as only one organisation affected with only about 1400 shareholders...what a joke

Lodge a complaint about ASIC as that is a ridiculous statement as if the police did not follow up a crime that had only one victim, there would be lawlessness just like there is in the small caps mining sector at the moment thanks to having NO REGULATOR. Corrupt Directors act with impunity because of ASIC

Also tell ASIC that good small companies in the sector did not have the market capitalisation that they should because of distrust in the entire sector