directors buying, page-5

Hey Ganda, I would expect Bill Votsaris (currently holds 35,000,000 shares or 6.6%)to take the lions share of the 25,000,000 shares that they have agreed to, if not all, that's up to them.

So, as I see it:

25,000,000 shares to be issued to senior management at 4c.

325,000,000, shares issued to Lehman at 4c.

A new $5,000,000 unsecured convertible note (which is effectively a loan, only the holder can forfeit the interest payments by converting the $5,000,000 loan into $5,000,000 worth of shares at a predetermined price, in this case at $0.10 per share at the option of the noteholder and mandatory convertible when the company’s volume weighted average share price reaches $0.15 over a period of three months) with an interest rate of 8.25% per annum for a total repayment of $6,237,500 in three years.

$3,000,000 in cash given to Lehman finance HYO must get from a local bank.

All collateral under converting note to be released.

Lehman may appoint 1 director.

So in the end Lehman will end up with 37% of HYO as there will be 881,000,000 share on issue after conversion.

Please see note.12 in the half yearly report and also I encourage everyone to read BDO Kendalls report on the last three pages of that half yearly.

I half expecting the sale of assets or an on market buy back late next year.