moving along in png... , page-18

very good volume yesterday and today and the .004c close is encouraging. Im posting an article from http://www.reversepr.com.au/2009/11/18/2011/m2m-to-provide-project-financing/ for the uninitiated.



Joint Project Funding and Development agreement signed by m2m

m2m targets initial annual income streams of $4M from long life projects

m2m Corporation Limited (m2m) (ASX: MCL) via its 100% owned subsidiary m2m Ventures Pty Ltd (m2v) has agreed to provide a project financing facility and development assistance (JPFDA) to a project developer operating in the South Pacific region and Asia.

The JPFDA provides, among other matters that, m2v has the right to provide project financing for all the developers projects. The maximum amount to be advanced is
$3.3 million while project processes are developed, with draws-downs made against mutually agreed project milestones. The advances will allow development of multiple projects as advances are to be repaid from the first sales proceeds of completed projects. The Parties expect that, subject to suitable project plans, the advances will be re-drawn to roll over the facility and fund further projects. The developer has access to a substantial pipeline of projects for future development.

In consideration for the advances, m2v will receive from the projects sales proceeds:

interest based on a BBSW plus 3% pa (or BBSW plus 5% flat for each six months) at m2vs election
3.0% of all proceeds from the sale of rights arising from the projects for the life of the projects. The expected annual income stream is $4 million by December 2010 and increasing in future years.

The developers projects cover a range of industries, technologies and countries. The Parties initial focus is on projects for the development of forestry carbon credits from rainforests, with forecast project lives well in excess of 20 years.

The first of these projects is expected to be completed by March 2010 and, based on current pricing for the project rights, give m2v an annual income stream of approx
$0.8 million. Additional revenue may also be available in the first year from retrospective application. The annual income stream will be approved for five years, with further extension subject to on-going compliance. Initial sales will also repay all funds advanced. The parties expect to apply these repayments through the revolving facility, to additional projects which will be concluded progressively every 60-90 days, building a book of projects with a forecast annual yield in excess of $4 million by December 2010.

Completing the initial project will create a modular template for future forestry projects, significantly expediting the time to develop them and the likelihood of successful outcomes.

The agreement also grants m2v the option to provide other administrative, trading support and development services to the projects on a fee for service basis.

The agreement is subject to m2m raising further funds and/.or project funding from other sources.

The performance of the JFPDA is independent of, and complementary to, the agreement (which is subject to conditions precedent) to acquire the business and assets of Carbon Planet Limited announced on 14 October 2009.

For further information contact:

Ian Clarkson (Executive Chairman) 0438 399 751

Peter Saunders (CEO) 0416 228 404

About m2m Corporation Limited


m2m Corporation Limited (ASX: MCL) (m2m or the Company) is an ASX-listed technology investment company. The Company has active investments in Telecommunications and Broadband Telephony, Online Portal and Software Development and Digital Video.

A significant investment is Bluefish which is the professionals choice, market leader in the development and supply of high definition and standard definition video cards to film and broadcasting specialists worldwide. Its cutting edge products are highly regarded in the industry and are used by major film studios and broadcasters like Sony PCL and Channel 7.

For more information, please visit: www.m2mcorp.com.au; www.Sipme.vn and www.Bluefish444.com

About Carbon Planet Limited

A global carbon management company, Carbon Planet brings together scientific expertise, industry experience and business insights to deliver an integrated suite of carbon management services including:

Carbon Commerce: scientific analysis and consultancy to facilitate the creation of carbon credit rights from projects and assist in the sales or other commercialisation of these rights
My Carbon Planet: inspiration, education and facilitation of carbon management for individuals
Technology: provision of methodologies and processes to deliver greenhouse gas emissions assessment, energy reduction and carbon management services.
The Carbon Planet transaction is subject to satisfaction of conditions precedent.