Ann: $12m Institutional Placement and Announcement of $3m SPP, page-5

Pretty much all of the $12mill is expected to be required for the US Army and mattress markets. This mattress market is turning into an absolute massive opportunity. AJX tecnhology has taken over the whole industry. I am confident this will happen across other sectors too in time. I'm comfortable with this.

Directors and management participating up to $275,000, a very good sign. Whole issue to institutional investors? Personally, due to previous uncertainty of percentages, I'd love them to be able to advise what they classify as institutional investors and what the current percentage of type of investors is.