Ann: Response to ASX Query Letter, page-76

We need to be able to service loans end of story.

will revenues be able to accomplish this.

we had a death spiral on our sp which gave incentives to regal to lower the price in order to secure more shares.

no doubt accumulation has been taking place but by who?

we have increased our ownership and loan responsibilities to IM3NY simultaneously.

IM3NY has not been able to raise any coin so the burden has been left to us. Which exposes us to this repeated cycle .

I don’t like the initial cert failure which seems rather odd.

we are running against a debt interest time bomb.

we need a fair amount of cash to get things going on multiple fronts and projects.

tough slog ahead. Time is running against us.

DOE potential loans are 6 months away, we must service loans until then.


we have extra recently acquired equity to potentially offer up but why would someone pay that when they could wait it out.

share price seems suppressed, in my opinion we are in hostile take over territory.

fair bit of luck a huge amount of hard work and great announcements required. Revenues required . Serviceability crucial . Time is of the essence. JV will give options. Time to weed