Ann: Appendix 4C - quarterly, page-106

And for everyone whinging about the directors getting a discount in the future placement shares...

If we are issuing $7.5m in shares, we are issuing $7.5m in shares. And we are doing all of it at 20% discount to the 5 day VWAP regardless of who is buying. I'd rather at least some of it be purchased by individuals I feel are a) in the know b) have the power to steer the company and perhaps most importantly c) won't dump the shares immediately back on to the market to take that 20% profit!

IF we're going to issue the $7.5m in shares at a 20% discount - why on earth would you guys be upset that that the directors are some of the people buying into this deal? Isn't this in the best interest of everyone involved? Would you prefer the full $7.5m to be purchased by completely disassociated and uninterested parties who will just see quick $ and dump and run? Heck I'd like as much as possible of that $7.5m to go to the directors at a 20% discount.