Ann: Trading Halt, page-19

Just to be clear, people seem to keep confusing MNS with iM3NY.

MNS raised about $30mill which they then directly invested into iM3NY. This is the New York battery manufacturing facility which also received addition funding via debt and equity from other parties.

MNS' investments essentially used up their entire cash holdings and was made after the last quarterly cash flow statement period.

While the profitability of iM3NY looks very positive, it is unlikely MNS will be receiving distributions from earnings in the near term as these funds should be reinvested for growth of the company.

I personally expect this to be an approx $5-$10mill Capital raise for Working Capital to cover the next 12 months salaries etc. I doubt any developments for significant funding for Nachu/im3 Townsville.

Could be for an ownership stake in C4V's Indian plant? I think that's most likely purpose after working capital.

Would like to hear others thoughts, but my understanding is that after the iM3NY investment, cash at bank is $nil