Ann: Director Funding, page-8

serena why would directors cough up 100k for the business with no gurantee when erj could easily do a placement at say 3.5 cents for a million dollars. erj could easily raise cash at these levels but they choose not too. ask yourself why is that and the answer is clear.

While opportunities to licence its technology to overseas markets progresses, Enerji remains equally committed to its existing strategy to secure further agreements to build, supply and install ATEN technology directly to the Australian market. Discussions with Northern Star Resources to deploy Enerji’s Hybrid HT system to their Jundee operations are well advanced, and the Company is hopeful that further agreements will be forthcoming.

frosty