ann: dec q report

in line with expectations:

Highlights in the December Quarter 2012.
? Appointment of Director, Mr Richard Tegoni
? Cash of $1.42M as at 31 December 2012.
? Capital raised - $799,000.
? Net Cash Outflow for the December 2012 quarter $0.5M vs. $1.0M for December
2011 quarter.
? Net Cash Outflow for the six months to December 2012 was $0.71M v $2.6M for
December 2011 quarter.
? Revenue for the December 2012 quarter $1.3M vs. $0.8M for December 2011
quarter.
? Revenues (Y.T.D) for the 6 months to December 2012 was $2.11M v $2.23M for
same period 2011.
? Expansion of organic waste management business winning $1.2M sales contract
with Pudong District Council, Shanghai China to supply initially 20% of householders
with Kitchen waste bags.
? Three other China District Councils continued to be supplied under trials with
commercial decision expect in 2013.
? Expansion of new wholesale materials trading business.
? Continued momentum in both the Bioplastics market and in Cardia Bioplastics
products with expected sales growth to flow through in 2013. Global marketing
strategy remains focus on bags & films, packaging and organic waste management
markets.
? Government sponsored Australian Research Council (A.R.C), grants funding for CO2
technology development in partnership with University of Sydney. Initial research
to cover packaging and medical applications.