Ann: Change in substantial holding, page-25

New SOI after raise is 1,223,443,971

So PWM hold 13.8% of that now.

Which is ~169m shares.

With respect to the raise, these BUYS by PWM are not any part of the placement - which was at 3.9c - although the shares must have come from that enlarged free float.

Pre-placement free float was 17.5% I believe - (see table two post above).

So that was 201m shares - then add another 77m from the placement (assuming none went to management) - so free float after placement was 278m shares.

Of which PWM now owns 169m of them.

Leaving just 109m for the rest of us - about 9%

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