email to the board not happy, page-8

TRIG,

Tks for your efforts with the company and Cedric. I too had a similar detailed conversation with Cedric about 3 months ago and all that I was told failed to materialise. I'm not sure why it will be any different this time. If it does occur per your email, cash at hand will be about 1 mil or less, given the burn rate. So any raising will likely be a very difficult event for existing shareholders, as the re-financing will likely be a placement to new shareholders at a very substantial discount, I doubt a rights issue to existing shareholders will be offered or will fly. So while a rabbit may be pulled out of the hat, I suspect the current shareholders won't get much of the benefit, eg the new investors will get the efforts to date for a song. We will all have "learned lots", to quote many NSL press releases, but the newbie shareholders will make the money. If you're going to buy, you might find cheaper entry price in 3 months time...