Ann: Response to Appendix 4C Query, page-2

This is certainly brilliant news and stated in terms that are as clear as day (also arguably should have been written in the first quarterly and I'm glad the ASX asked).

"The Directors regularly review withmanagement the Company’s operations against budget, and the Directors are encouraged bythe progress being made by the business and are confident of the ongoing growthopportunities of the Company. Based on the management budget and the Directors monitoringof revenue, costs and cash position, the Directors do not presently have plans to raise fundsthrough the issue of shares."

No capital raise for the "foreseeable future".
Business in turnaround mode.

Investors can breathe easy for a while yet. Looks like the light at the end of the tunnel is the rising sun.

Once the market catches on to this conclusion I'm expecting ADR to significantly rerate higher.