Ann: Appendix 3B, page-19

ROH,

Whatever it is they shipped for $600k transport cost is obviously big and would ( or should ) have been in CDU,s project plan. What I said was that the shipping agreement was probably organised last year . The debt and payment due was probably incurred in Q4 when the transport company actually provided the transport service. On balance of probability, the shipper is liklely to be connected to on of CDU, major shareholders.

on the loan, yes the Board signed off on it but they are not in control of the funds, Minsheng are. We do not know what is actually in the agreement , only what CDU posted as high level points. Based on that, CDU were supposed to pay 2% upfront fee on establishment.

If the facility was actually stablished in June, CDU should have made the payment in June and it was not in the q4 cash flow report.