Ann: Capital Raising and ALDP Update , page-30

Carls question as to whether we are expecting another ann' is a good one.

It is one of 2 questions I'd love to know the answer to.

The other one.

Did Arup actually want shares as payment/equity or would they prefer cash.

Due to the last minute nature of the deal, the contiued failure of Monash to deliver the money intended for DFT and the large GW issue as fee(which looks to have been already collected), it appears to me that Arup had no choice. I may be wrong, but that's how it seems. Would be great to know the answer.

If they did actually want the shares due to a sudden confidence through there DFT findings, very bullish. It is a shame that it could cost holders around 10%+ in further dilution effectively giving Arup a 10% stake for $2.5mill. If the share price falls further, that % will rise due to the discounted ARUP shares based on vwap.

Will Monash also still get there large stake in ECT for whatever % they finally handover of the $6mill they have been promising? If so IMO holders lose out via large dilution again. And all this at a time when we are supposed to be big winners?

I guess we'll never know if Arup wanted the shares. Will Carl get an answer to whether or not we have had the big ann' yet? Time will tell.

A favourable answer to both Q's would be great news.

Good luck all
B Rubes