Ann: Despatch of Prospectus and Entitlement and A, page-2

re: Ann: Despatch of Prospectus and Entitleme... the best thing that shareholders can do, is toss the whole lot into the bin..

given the share price, the take up will be less than 50%. meeting overheads, is obviously the first priority - and that included director fees etc.

watso has not double checked in relation to mxr, but often times, a director is associated with an accounting business, and that accounting business, charges out accounting fees, at exorbitant rates, to companies associated with the director. yeah - sure it is all couched in terms of "commercial rates".

watso will give an eg - a junior auditor, spends 1.5 days, auditing the books of a small company - everything is made easy - all the books are up to date, and there is not much to audit - the fee is $4,500.

the junior auditor, gets a few peanuts, and the bosses of the accounting firm, are buying another race horse, or buying another yacht, to sail in the sydney/hobart race.

anyway, there seem to be plenty of companies, with the same registered address as mxr - so there could be one or two directors, who are collecting a multitude of fees (from several companies) - which could include director fees, consulting fees, office rent fees, accounting fees etc