big thumbs down, page-52

Peakmastery much like gambling the ASX may be but I dont bet on what I am not sure about but debate it I will:

1. My source is :

http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg125a.pdf/$file/rg125a.pdf

Not sure but I am of the belief that ASIC should be the defining regulation.

2. I also looked at a loophole. They have not yet announced the SPP so have only announced their intent to have one with details to follow. They have not issued the cleansing statement. and the presentation also only referred to intending to offer a SPP.

3. The shares traded without the XR tag which I thought would have had or in the event it did not it would have to have released the last date to register in the announcement so that buyers could see that if they purchased today they would not be eligible.

So have a think but an announcement of intention is not a definitive announcement. There are no defined terms at present. No amount of capital - the dates or the terms and conditions. Just like a letter of intent is not a binding contract.

Lets see how it unfolds. what is clear is that management dont believe in being absolutely and unequivocally clear. which can mean two things - A- that the rush to get onboard was not as good as they thought it would be or B- They are just disorganised IMO.