Not for Lease, page-5

Sheldon Coates instigated the appointment of the limited receiver, he at the time was owed 2m$, He got wind of the R&D returns and decided that he should get his share. (as posted here).

I have become aware that there are now 6 years of return, they will not be in the order of the 1m each.

The first return about 1m was received by FAS, this drew queries from the ASX. I posted it here before FAS informed the market, an announcement was then made the following day.

The second formed part of the limited liquidators appointment and was received by them, it is there duty to ensure all staff entitlements are secured, as the company is in a partial receivership. The remaining balance was therefore transfered to the Sheldon.

I refer to mistie post 10/5/16 AusIndustry, the government agency responsible for administering the R&D Tax Incentive Program have been undertaking compliance reviews (section 27F of the Industry Research and Development Act 1986) of a number of junior explorers in regards to their Company’s claimed research and development activities.

It has been explained to me that there are some issues regarding the other r&d returns as stated in the above paragraph.

We need to keep in mind that John Trevor Fraser is looking to wind up the company for as reported here 180k. He is involved in some convertable notes issue. (Im nearly certain his name appears somewhere in a FAS doc).

We are all well aware that there are other outstandings, as I have posted some of these including 600,000$ owed to the Kalgoorlie council.

There is a fine line between naming sources of information, people do not wish to have their name in print.

If some members and shareholders feel that I have inadvertently attempted to make light of the situation with comical posts for entertainment, this is not the case.