placement offer at .05, page-2

Towards the end of the presentation I noticed the following:
Cash on hand at 31 Dec 13 = $745mil
Estimated cash at 31 March 14 = $850mil

Clearly we are now operating at a profit and have accumulated $100,000 in the first quarter.

The offer is one for each four held and the maximum issue will be a bit over 100 mil new shares. It is going to be very interesting to see what happens to the share price up to 30 April. There will be interest in having shares so as to participate but also a lot of holders might sell in the low 5's so as to meet the cost of buying at 5c. I cannot see the SP falling below 5c but it will probably be restricted on the upside by the size of the offer. Few current holders will pay above 5c because they will get them at 5c in the offer. The only buyers will be those wanting in. Probably a trading range between 5c and 6c in the short term until the offer is finalised.

The big positive is the potential for Hepafat in the USA. The example they give in the presentation is 1% scans on the 106 mil American with fatty liver at $130 each. That comes to about $135 mil per year. Anything like that and Resonance will be worth a mint before long. AND that is only the USA part of the operation!!!

I will certainly be trying to take up my full offer.