Ann: September 2014 Quarterly Activities Report, page-4

The One defining point is that those that have been saying we dont have cash flow issues should note that we just had to borrow another $1million from ERM and that we had $1,4 million net cash outflow.!

I wonder if any that thought I was mad when I pointed out that we have these issues will now believe!

There are a few other issues but to be balanced I would just like to point out a few things that although Brett Heading is now an independent director he used to serve on ERM board. Does not mean he is not independent but those that are new may not know that.

Really I dont think anything has changed other than they must be seeing the debate on HC. I will still vote No.I dont see any reason to buy the assets - Rights issue yes assets No for me.