vote no kowalick nc, page-31

re: vote no kowalick: Peter, I was on the Board prior to the float. It was at a time when there had been little or no raisings successfully completed in the resource industry. Our company needed to raise $500k for listing and the bulk of that came from Markus Rose,s clients. He demanded a seat on the board or no money. No one else would get off so I did to get the company floated (my biggest mistake) I had Peter Walkers assurance that I could attend board meetings if I wished to and that I would have his support to to rejoin the board at a later time. I did everything within my power to float and support this company at great personal cost. The board lost its way just prior to the disasterous SPP.( they got their money but have left the company a sitting target for an opertunistic takeover) Nit picking became the order of the day with board members frieghtened to make decisions. A clear lack of leadership and a weak board. As alluded to by kalmsg I intended to take the company to court over its dealings with myself. However this did not happen as a sizable settlement was acheived between both parties, of which the details must remain confidential. Norm