Ann: Board & Management Update, page-8

It's worse than that. The new directors are appointees of CPS Capital (as with TYX), and then lock in all the deals back to CPS (as with TYX - bleeding the Company) ... effectively using the company as an ambushed vehicle to feed on itself.

Have a look at the fees of the Capital Raising and Offer:

1. CPS has been appointed as underwriter for an underwriting fee of 6%

2. CPS receives 40 million unquoted options exercisable a 1c per share (with an expiry of THREE years) at an issue price of $0.00001 ---- COUNT THOSE Zeroeeees.

3. CPS has been 'appointed' as the Company's Corporate Advisor ... and this poor shell of a company, POW, that has (a) no money and (b) no project ... is now locked by contract into paying CPS $6,000 EVERY month + GST ... for 12 months ... at which time, they will undoubtedly re-new it for another 12 months. Raise money by CPS - and pay it back to CPS.

4. As for what services CPS is supposedly providing in exchange for this $6,000 monthly fee (which reminds me of watching The Godfather on TV last night), one can only imagine what advice they might offer for such a sum: maybe to 'run a review of the Korean project'. Hit me for a six!

5. If the CPS options are exercised because somehow something manages to go well, they still have to pay another 6% on the money raised by those options back to CPS. Double dip and Triple dip.

6. Then have a look at the Entitlement Underwriting Conditions: these set out the conditions at APPENDIX 1 under which CPS does NOT need to perform their stated underwriting obligations ... i.e. the free OUTs .... where they can walk away. They include an outbreak of hostilities or a material escalation of hostilities (whether or not war has been declared) involving any of the following countries: Egypt, Russia, USA, Iran, Israel, Russia, India, Pakistan, China, etc etc Last I checked, it would be unusual for at least one of those countries NOT to be involved in new 'hostilities', including India with China, India with Pakistan, Iran with Israel, and Russia with everyone.

Welcome to the new Protean.