capital raising, page-65

Nice summary Tim and I think it has captured the main points very well. The expected announcement(s) tomorrow morning should add some more meat to what TB was able to say at the moment.

Two other items for the benefit of ram01;

1. Audit costs are of considerable concern and the company is seeking new offers from companies to complete the audit requirements both here and in the US. There are not too many that are able do the job.

2. The company has already cut around $500k p.a. out of the admin costs but sees little room for any additional savings without scaling down the company's operations in a major way. Not what you wanted to hear but that the way it is. And FYI, TB was here alone as far as I can ascertain.