The Company has secured a line of credit totalling approximately $500,000 (secured by a personal guarantee of Dr. Sze Wee Tan) to assist in meeting working capital requirements. The facility is ongoing and renewable on an annual basis.
On 12th September the Company announced that it had obtained fi rm commitments for the placement of 32,000,000 shares to sophisticated investor at 1.5 cents per share to raise $480,000. The shares were subsequently allotted on 22 September 2006.
Also on 12th September 2006 the Company announced its intention to launch a Share Purchase Plan to raise up to $1,710,000
