Ann: Response to ASX Query, page-8

Good to see the ASX at last didn't accept the initial response provided on 20 Feb and made them expand the response. It enabled LPW to dig a deeper hole for themselves.

LWP say - whilst he did comment adversely on being able to secure comprehensive information on where VVV and Mr V had expended monies, he did not comment adversely on the technology in questions.


1. If there is nothing in the factory and no evidence as to where the money was spent, common sense might indicate a loss in confidence and belief in the venture and indeed the technology.

2. One doesn't need to travel to Thailand to review the accounting system. It was a start up with some expenditure incurred, the list of invoices paid could have been put on a spreadsheet and that would have been sufficient. Indeed, one only had to see the (invoices or copies of) for expenditure. If the money hasn't been properly spent an accounting system won't help you.