Ann: Response to ASX Query, page-33

The explanation for the “pre-existing share-based arrangement” is complete and utter GARBAGE and unacceptable.

How can BUD include this in a report and then retract it as “an error”? To top it off it was “apparently” a loan facility all along. Why was the facility not disclosed in the quarterly, particularly given the terrible state of finances?

Does anyone else really believe that an unsecured loan would be written at a 10% interest rate when the best secured rate BUD can get is 12%?

Oh, and that highly significant reporting error discovered over 2 months ago causing the company to get suspended? You know BUD prepare reports monthly, but no rush BUD will try and put controls in place but they haven’t got there yet!!!