Ann: Placement and Accelerated Non-Renounceable Issue, page-16

I'm speechless - I'm not really sure how much longer this company can verbally try to fool investors with their positive rhetoric, whilst on a multi year basis (lets call it a decade), deliver so little. Love the constant cutting and pasting of previous reports stating that cash flow will be reinvested into future buy back or dividends - how long has Allen been parroting this line for. And of course the usual worded addition that funds will also be used for 'Future working capital' - I will give you three guess what this means !!! actually you'll only need one guess.

So with all the complaints about past dilution and Allen stating there would not be anymore CR's, we now have the biggest dilution I've ever seen from any company. Am I right in reading that when the dust finally settles on this, the company will have potentially over 5 billion shares on issue !

Gobsmacked. E.