warning signs all over this, page-3

I am glad you brought the loan up Brad.....i do note it was a loan agreed before the end of March yet did not appear on the statement.

so a dilution of shares to stay afloat.......LOL

it gets worse and will go under quicker then you can say where is my wife!

LONDON 22 April 2005 - SkyNetGlobal Limited, dual-listed on ASX (“SKG”) in Sydney and on AIM
(”SKN”) in London, has signed an agreement to receive an A$850,000 loan from Cornell Capital
Partners Offshore, US-based Private Equity fund. The loan will operate along side an A$5 million
standby equity line of credit provided to SkyNetGlobal on 3 March 2005 by Cornell Capital.
SkyNetGlobal will receive the entire A$850,000 upon execution of the agreement.
Under the new facility, SkyNetGlobal will repay the A$850,000 loan through the issuance of A$25,000
in shares every two weeks between 5 May 2005 and 17 August 2006. The shares will be priced at a
6% discount to the lowest ASX closing price in the 5 trading days prior to the payment settlement day.
The loan includes an interest rate of 12% per annum. Until the loan principal is fully repaid,
SkyNetGlobal will not draw down additional capital from its existing Cornell credit facility.
SkyNetGlobal will apply to make a block listing of up to 1 million shares to be issued under the loan
facility to be admitted to trading on AIM. The new shares will rank pari passu with the company’s
existing issued ordinary shares.