quarterly out, page-21

Hi Hoot,

Thanks for that. Clears my mind on that score.

How about this. ASIC on the right path at last.

The following article appeared in the Gold Coast Bulletin on the 30th January, 2014:

Day Trader may face jail in ASIC allegations.

A Casuarina day trader is facing a jail term of up to 10 tears if found guilty of market manipulation. K…….. J… W…., 32, appeared in Brisbane Magistrates Court
on three market manipulation charges, following an investigation by the corporate regulator.

Mr. W…. is accused of market misconduct regarding his trading in contracts for difference(CFDs) in Auspac ResourcesNL and Smarttrans Holdings Ltd between
September 22, 2011, and March 27, 2012. The Australian Securities and Investment Commission alleges Mr. W…. entered into CFD positions in relation Auspac Resources NL,
causing 302 trades on the stock exchange which created false or misleading prices in relation to trading in APG shares.

He is charged over the same allegation involving 82 trades involving Smarttrans Holdings and a third allegation of one trade relating to APG. Each of the charges carries
a maximum penalty of $495,000 or a 10 year jail term or both.

Mr. W…. has been released on bail on condition he surrender his passport. He will appear in the Brisbane District Court on a date to be fixed.

ASIC said a CFD was an agreement between an investor and a CFD issuer which allows a trader to speculate on future price movements in a financial product such as shares.
The CFD value corresponds to the value of the product, in this case, the shares.

It said over the six-month period Mr. W…. traded through a direct market access account. Under this model, the CFD issuer hedges its exposure to a client’s trading position by causing an equivalent position to be taken in the underlying ASX security.



This may also be of interest to CDU shareholders as CuDeco is listed for possible investigation on a number of submissions made to the forthcoming Senate Inquiry Hearing.

cheers,

Max