Ann: Notice of Annual General Meeting, page-2

"The Remuneration and Nomination Committee has recommended that Mr. Milroy receive:
- a short term incentive by way of a cash payment; and
- a long term incentive by way of the grant of options.
The terms of the both incentives are set out below and are intended to provide an incentive to Mr. Milroy to advance the status of the Company."

These spec companies are the epitome of self indulgence. Here we have a company that has wiped 80% + of sharholder value, left owing millions to unsecured creditors and all we see are constant grabs at more shareholder dollars. If our MD needs an incentive beyond the $300K base salary maybe he should look at giving something back to turnaround the disreputable disposition of this company.