Ann: Change of Director's Interest Notice - D. Quinlivan, page-4

This was the preamble or conditions . below - for of the issue of these shares to Mr Quinlivan, voted upon at the AGM

As mentioned in an earlier post - it is apparent that there is no formal obligation to take up the offer of all these shares @ 17 cents. But only 6 days ago - David did just that. $100, 000 of his cash to buy shares in this company at 17 cents

S0 much for nervous nellies here - jumping at shadows, in reaching for the sell button.

It is apparent though, there has been selling - as mentioned sometime ago, I think ALL the core selling has come from those stag bunnies who travel the ASX ..... in sweet with their brokers and participate in share placements.

This stock happened to almost immediately gap down to 17 cents after the raise..... 120m new shares issued to those that took part, looking for a stag profit. Consequently we have all had to pay the price, as this 120 m exit in light trade (ie up until recent days) .

My take - but above all was the significance of David Quinlivans purchase last week (How could anybody not draw this conclusion) - and how cheap the SP is now.


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The proposed issue of Shares to Mr David Quinlivan (or his nominee(s)) pursuant to Tranche 2 falls within Listing Rule 10.11.1 and does not fall within any of the exceptions in Listing Rule 10.12. It therefore requires the approval of Shareholders under Listing Rule 10.11. This Resolution seeks Shareholder approval for the purposes of Listing Rule 10.11 and for all other purposes to allow Mr David Quinlivan (or his nominee(s)), to participate in the proposed Tranche 2 by permitting him or his nominee(s) to subscribe for up to 588,236 Shares in addition to the Shares issued to unrelated parties, as detailed above. Mr David Quinlivan’s (or his nominee(s)) participation will be on exactly the same terms as the Placement made to the unrelated parties. If this Resolution is passed, the Company will be able to proceed with the issue of Shares to Mr David Quinlivan (or his nominee(s)) and the Company will raise up to $100,000 from the issue of Shares to Mr David Quinlivan (or his nominee(s)). If this Resolution is not passed, the Company will not be able to proceed with the issue of Shares to Mr David Quinlivan (or his nominee(s)) and the funds raised of up to $100,000 through the issue of these Shares will not be received by the Compa