Ann: Monthly Appendix 5B , page-3

Almost 18months ago MAE placed shares and advised that it would be in conjuction with capital raising to recap the company, it never eventuated. Over a month ago they raised $3.4mil subject to shareholder approval yet they still have not called a meeting to approve it. Cash reserves are sitting at approx $100k with the bills and list of court proceedings to recover unpaid money growing by the day. Weekly interest rates would be as much as cash on hand. The only reason this is still on life support is the banks dont want the assets!!