Correction – Page 6 of the March Investor Presentation clearly...

Correction – Page 6 of the March Investor Presentation clearly states (QUOTE) "If price is below $0.60 on conversion, then unit holders will own 49.75% of capital" and NOT 48.75%

There is absolutely no reason for Stark to convert at such a precarious time when CMQ is likely to default on the covenant requiring $4.1M REVENUE from all sources by 30 June if the SA sale receipts do not come in.

The bonds were SECURED with a floating charge within days after Dr Melrose told CMQ faithfuls the bonds were unsecured to show how much faith the death-spiral financiers had in CMQ. It earns 8.5% coupon rate payable quarterly; financiers had 2 appointees in the CMQ board (presumedly being paid undisclosed director fees & expenses); and a Mizuho/Stark appointed management team under Mr Nichols in place and paid by CMQ.

Make no mistake – Stark is in the driver seat with all the benefits & little risk (the security of the floating charges and expenses paid by CMQ). The covenants prohibit CMQ from raising secured debts & require Stark’s consent to incur unsecured debt of $200,000. Yes, sir that’s less than 10% of the CMQ monthly cash burnt rate. And if through the kindness of God, CMQ make it, Stark is there to rip up to 49.75% of the company.

And by the way, the valuation I posted earlier is NOT my valuation but KPMG's who was commissioned and paid by CMQ.

Cheers