Ann: Appendix 4C - quarterly , page-3

~425M options @1c = ~$4M due mid December should keep things alive a little longer assuming we all have a reason to convert. If not then we're in need of another sugar daddy.

A couple of directors have options they could convert at 2c now or in the next few days. We're at 1.8c? 1.9? now. Come on guys, we'll be running on fumes pretty soon, show some faith and shovel some $ on the pile. There's a lot of guys out there that have lost a lot more.

I may have missed it but the one thing I would like to know is *when* our production will increase. No point in having the "potential to produce 150M litres/year" if we're only doing 6.

Looking at production costs we made $6.4M from $6.1M feedstock. Given that the first shipment of cutprice feedstock was on the water May I assume this is based on the old expensive stuff. Our Made in China stuff is @ 30% discount I believe so factor that in, scale 6 up to say 40M litres a year and we're up ~12$M for the year which covers the fixed costs with perhaps a little gravy left over.

Too much to hope for a break even FY11/12 but perhaps 12/13?

Haven't factored in BPL as I have no idea.