re: Ann: Annual Report - despatch to shareh... Same old, same...

re: Ann: Annual Report - despatch to shareh... Same old, same old, I love the "Yours Sincerely" they can't possably believe that. I see a nice load of cash raised, I wonder if he will use it to by some more revenue generating business, as he did for Meldex (NOT)


As indicated in the announcements dated 20 December
2010, the company??s focus has changed to that of a
strategic acquisition. Through its enhanced networks
the Company is well-positioned to maximize shareholder
value through strategic acquisitions. The Board has
received strong investor support regarding this new
strategic direction and will update the market as soon as
possible.
Yours Sincerely
Richard Trevillion
Chairman
1 March 2011
Capital Raisings
The company undertook a number of capital raisings during the 2010 financial year and also raised
additional funds on 20 December 2010. The following is a summary of these fund raisings:
?F?n$1.23 m raised in September 2009 through a placement and a rights issue at 28 cents per
share
?F?n$1.82 m raised in January 2010 through a rights issue at 30 cents per share
?F?n$1.63 m raised in June 2010 through a rights issue at 15 cents per share.
?F?n$0.21m raised in December 2010 through a placement at 3 cents per share
?F?n$0.50 m raised in December 2010 through a convertible note issue.
New Opportunities Going Forward
As part of the scale down of our operations and our last capital raising, the board of the company
Information on directors
Mr Richard Trevillion
Non-executive Chairman ?V appointed in December 2010
Member of Audit and Risk Committee and Member of Remuneration and Nomination Committee
Richard is the founder of Amity Partners and Adillion Pty Ltd, both principal financial investment and
corporate consulting businesses. He previously served as Head of healthcare within the technology
corporate finance group at Close Brothers Corporate Finance