Ann: Change of Director's Interest Notice, page-2

this latest parcel of shares bought by michael ruane was at a price of about 2.9c, a small parcel maybe restricted by the fact he aready has significant money tied up in rwd loans (about $3.6million).

it has occurred to me that had this money been available to him or he had been able to convert debt to shares when the share price was lingering around 2.3c , then he would be in a significantly better off financial position.

back off envelope calculations show that if he had coverted all debt to equity at that time he would now hold at least 70% of the company...i think that shows extraordinary restraint...or maybe he really is in it for the big picture...and is quite happy to carry along the long suffering minor shareholders...maybe he really doesn't give a f### about the money.