""((In July 2010, the Company raised $650,000 less costs of...

""((In July 2010, the Company raised $650,000 less costs of $36,950, through the placement of 16,250,000 fully
paid ordinary shares at $0.04 per share, to professional and sophisticated investors.

In September 2010, the Company raised $1,529,500, less costs of $81,475, through the placement of
43,700,000 shares at $0.035 per share, to professional and sophisticated investors.

In October 2010, the Company raised $210,000 through the placement of 6,000,000 shares to professional and sophisticated investors.

Expected outflows for this quarter was $790,000.

I haven't quite reconciled why the June Quarterly has $440,000 in the bank but the Annual Report says $56,783.))""

Gazzatt

If they had $440,000 at the end of June, then they had a CR in July of $613,050 ($650,000 - 36,950), then they had another CR in September of $1,448,025 (1,529,500 - 81,475), then another raise in October of $210,000, and then Expected outflows for this quarter was $790,000 how come they only have around $57,000 in cash as nightspore wrote????

Now IMHO, they should have {$440,000 + 613,050 + 1,448,025 + 210,000 in October (if it can be taken in consideration)} - 790,000 (expected outflows) = $1,921,075.

So gazzatt if what you wrote is correct, and I have no reasons whatsoever to doubt you, where is the rest of the money gone???

It is apparent that the expected cash flow of $790,000 has been totally blown out. One would hope. But where????

Cheers,

Buddy