settlement, page-3

According to the latest quarterly report:

- Issued capital of 556,426,332 ordinary shares;
- 7,068,276 unlisted options to acquire ordinary shares;
- 2,574,137 unlisted share rights to acquire ordinary
shares.

So even if all the unlisted options are taken up that leaves us with 566,068,745 shares and according to the latest report $88.4 as at 31 December (which is in US Dollars).

Plus the US$80 settlement takes us to ~$168.4 but I think it's reasonable to take of a few for all the various legal costs and adviser costs and of the course the day to day operational costs, so lets conservative and say US$150.

Ignoring any other ventures (mainly because I don't have time to look up their various values leaves us with a cash backing of ~26.5cents adjusted from US Dollars is about 29.5c.

Is that right? Not a great position really. Interested in anyone elses' thoughts on this.