key questions, page-6

Kosenar,

I think you raised some good points.

1. I would like to hear about the status of the Philippines LOI.

2. I would like to know how the Thermo deal is progressing and how much cash has already been paid. This deal was done as part of a settlment in NuSep's favour, so we should be quick to get them to take our product and pay us!

3. I think there was some (buried) announcement about the shares. Wasn't this part of the ASIC/ASX problems? BUT I think there should be a clear and concise announcement about what went on with this, partiularly if it is all above board. When this type of stuff is buried or glossed over, that makes me concerned. I watched Boarder Security last night and they nabed a drug trafficker. He was really dodgy in his answers to questions and customs just went in deeper....

4. Good point. If they did receive fees, after being paid handsomely, isn't that double dipping? And if they did get paid fees for underwritting, did they ever have to actually take the shares that they received the fees for?

5. I think we can kiss that money good bye. At the AGM last year, there was a number of questions about the bonuses and they got all defensive. The fact is that there was no real profit, only one created by the accountants (and approved by the auditors, mind you). The bonuses, however, were real. And they were conveniently paid for by the SPO. Was this the 'creating a false market' that the auditors reported to ASIC?

6. You didn't have a 6, so I am adding on here. I would like a complete explanation as to what the auditors were referring to in their letter about reporting the company to ASIC. We've not heard a single word from the company about that. This is what frightens me most. I am concerned, that there's smoke here and they've said nothing about it. They seem to be very serious allegations.

Ragingboom, you've got a lot of tough quesions to ask of the board & management. Good luck with that and I look forward to hearing what the answers are.