Ann: Response to ASX Query, page-6

Don't worry, they'll now be able to roll-out the well used old chestnut of there's …………

Due to the upheaval in financial markets we weren't in a position to tap investors as we wished, we didn't have time to organise a rights-issue with existing investors so we've carried out a share placing instead at a hefty discount to the current share price ……..

As I said before and some of the company backers didn't believe me, they'll do the 30 for 1 consolidation followed by a placing at 1.5 cents a share max (ie 50%+ below the December fund raising) possibly as low as at 1 to 1.2 cents a share.

The most worry part of the announcement is that even after selling of the family jewels of old (thus lowering outgoings considerably) they only talk about reducing negative cash-flows in the coming quarters nothing about actually breaking even !!!

@eltr0n

I believe that is in total contradiction to what they were saying to you less than 2 weeks ago at the EGM (as per one of your posts on the forum).

LOTM