half yearly

Note that Intec believe that if 2nd tranche convertible note not available or taken up...........

Going Concern Basis
The accounts have been prepared on a going concern basis. On 16 November 2009, Intec signed a
convertible note facility with La Jolla, which provides up to a total of US$3 million in working
capital in two equal tranches of US$1.5 million. If the facility is fully utilised it will substantially
meet Intecs working capital requirements during 2010. However, if the second tranche of US$1.5
million were not to be available to the Group, then significant uncertainty would exist as to
whether or not the Group would be able to continue as a going concern and the Group would
require additional capital in order to continue meeting its obligations as they become due and
payable. If additional capital was required, the Companys Directors would consider a number of
alternatives, including raising further equity, realisation of non-current assets and seeking entities
to partner with the Group in its core business activities relating to the Intec Process. The Directors
consider it likely that the Group would be successful in its pursuit of alternative means of raising
capital and therefore no adjustments have been made to the financial report that might be
necessary should the Group not continue as a going concern.