Ann: Appendix 3B, page-86

Hi,

The last raising was at 3 cents (as per ASX announcement on 23/09/14), The 5 cent raising was done in July (it just happens that notes were converted recently). There are still $221K of notes convertible at 3 cents outstanding and I presume that $150K of 5 cents convertibles have been redeemed for cash. Then only 10 days back, the three directors chipped in $90K for 3 million shares at 3 cents each. As per annual report, the research endomicroscope will be released no later than March 2015 - will the raised funds last that long and if not then another raising will be required.

Looks like there are lot of people caught up who have paid much higher prices and are looking to unload and cut their losses (not everyone is patient like us long termers). I gather that these people will become desperate and sell out and bring the price down to 3 cents or less.