Ann: Response to ASX Query Letter, page-38

I think there is a pulse.

I think it is primarily a capitalisation issue and where that cash might be raised under the circumstances.

Pallet rental seems to have some legs if cash can be committed to create the stock required and execute.

Sounds like some orders are pending for pallet purchases but order placement timeline shift is an issue. If we are making to order there is a significant lag between order and cash. So if orders that were expected in last quarter come this quarter we are probably not going to see the cash for another quarter or so. I see this lag as an issue.

I think a decent cash injection is required to get to the next stage of the business. I told Richard that I would be supportive of a capital raise and I hoped that others would be as well. I am not sure of others sentiment is in this area and if a CR from shareholders would be successful.

I would recommend shareholders to engage with management and put forward any positive suggestions and what you might be able to bring to the table. I would also encourage shareholders to confirm support for a CR if in a position to do so.