appendix 3b, page-15

Aaronr - you're right the bros grim will be keen to sell up to 47m + con note holder another 45m. So we have potentially keen sellers with about 100m FPO to wash through over the next 3-6 months.

Lautrec - for clarity the esi/tincom SPV gets the cash (Vic Coldry Pty Ltd) not ESI (right?). ESI needs cash to advance the other "deals". Of course that won't be an issue after the first success (which is your point i think)

SP3 - the con note holders don't need cash. Or are your refering to other alleged manipulators?

Sholtz- Isn't he better off to convert smaller chunks that he can sell in a structured fashion (in line with the ESI volume). No point converting 100m shares in one hit and not being able to sell straight away (or fairly quickly).

Also, I think I'm right in saying that ESI pay interest on the remaining debt so the con note holder will still earning money on the unconverted notes (loan/debt) in the interim.

Can someone confirm or correct me on this last point? Or is the whole point of the con note to avoid paying interest to the financier in the first. I'm confused on this bit and don't wish to mislead anyone.

I still think we are in for another pump and dump in
the comming weeks, because of the 100m (above) and Day Traders doing their thing. However, I reckon that we are off and running FOR GOOD in the third & fourth quarters.


all the best.
tbedon