cr and doing the sums, page-4

Jessie

Like you believe CNN is in the right market at the right time (now) and needs to plan for contingencies - however they also have to fight a track record of continued SPP's with little to show for.

Hope that we have turned a corner (plant and much better sales ) and as long as the master plan makes sense happy to partake in another SPP.

Preferred option: fully underwritten - or a placement to sophisticated investors etc

We do have to watch to continued dilution though and a firm eye on sales - be great if CNN can hit the 5 mill target for FY !!!