visa mastercard, page-51

re: 24 million shares to hit the street ##You are completely wrong in what you are saying.##

I took some time to compare BQT to another company called ADU, I think Geoff Rann is wrong.
The options will be issued under an appendix 3B in 10 days. It's a worry when a member of BQT's staff is not aware of this.
There will also be an appendix 3B for 7.5 million options, which in total will add a futher 24 million shares to the register.

ADU
18-10-04 quoted securities 67,439,876………..9,000,000 securities not quoted on the asx, refer note 9.

17-11-04. employee options 137,500. quoted securities 67,577,376 ………….9,000,000 securities not quoted on the asx refer note 9.

2-12-05 excise of options 100,000. quoted securities 67,677,376 ………..9,000,000 securities not quoted on the asx. refer note 9.

21-1-05 (appendix 3B 9-2-05) release from escrow 4,000,000. quoted securities 71,677,376

7-2-05 (appendix 3B 21-2-05) release from escrow 5,000,000. quoted securities 76,677,376

What this shows is the 9,000,000 shares that were listed as “all securities not quoted on the asx” and classed as “ordinary full paid shares” refer note 9.
Were released from escrow in two lots, 4 million and 5 million on the 7th and the 21st of January, both of these announcements are applications for additional securities the same as BQT has filed. There is no difference in the paper work.

Just follow the announcement dates on ADU and you will clearly see that the "quoted securities" swell from 67,677,376 shares to 76,677,376 once the 9,000,000 shares were released from escrow.