Ann: Appendix 4C - quarterly, page-268

Hi Prap,

Not at all, and apologies if I came across harsh in my commentary, It it not directed at you.

I have provided a more detailed explanation of my argument here:

https://hotcopper.com.au/threads/class-action.4330460/#post-34682416

With all serious investors, "risk management" and "capital preservation" are key themes. I am currently out due to risk management practices (which I moved from $0.19c - shame on me)

Please refer to this detailed reference from @redant around the terms of the current funding agreement -https://hotcopper.com.au/threads/class-action.4330460/page-46?post_id=34681326#.W2JApNgzYk8

Key statement:

I am personally out of the stock at the moment, and I believe any funding deal would be subject to approval from PFG (the current funding partner), and I also strongly believe it will not be on favourable terms for the company.

Talk about "not killing the goose that laid the golden egg" is wrong. Finding good companies and dividing them up to maximise value is the modus operandi of some people / companies.

Any equity partner would cause massive dilution. If we are talking the need to raise $12m (or 33% of our total current market capitalisation), that is another 200m shares on the register.

That would take us to having 484 million shares.

After the original 10:1 consolidation that would take us to having 4.84 BILLION shares. We consolidated when we had 1.8 billion shares on issue. It would mean another 3 billion shares in the old money would have been added and we are at ALL TIME lows.

People have a right to be angry and demand answers.

A lot of people here have suffered through this massive dilution and loss of wealth after numerous botched raises.

$1.80 to $0.135c

We should have been at at least $0.30c if WP gave us guidance that was realistic and we hit it.

They just requested a Trading Half for another Capital Raising.