Ann: Response to ASX Query, page-93

Granted. But you have confused my scepticism for anger. If you want to blindly have faith in ML, Airguide, and AVZ, then by all means continue to discount what me and the other sceptics say... I believe this game demands a healthy dose of scepticism.

I'm not selling, but I'm watching with interest - we are not a bluechip company that has the liberty to fling dollars at promoters to the tune of $300k+ each year for too many consecutive years without feeling some pinch. We are a SPECULATIVE SMALL CAP stock. Spending money like this and then seeking additional CR can only last for so long. There have been many a company that have dealt in "arm length" transactions of this nature only to go belly up - and the only losers are the holders who throughout the process defended management as having their best interests.

I AM NOT SAYING OR IMPLYING ML AND AVZ MANAGEMENT IS DOING ANYTHING REMOTELY OF THE TYPE.

But I am saying it is not the worst thing to sceptically approach the decision making of management.

I'm more than happy to be proved wrong and that this is money well spent - time will tell.