Amounts due from controlled entities were converted into shares at 30 June 2006 following a resolution of the directors. This took place in two stages whereby Rockeby biomed Corporation (RBC) assumed the debts owed to the Company by Rockeby biomed (Australia) Pty Ltd and Rockeby biomed (Singapore) Pte Ltd in exchange for shares in those companies. RBC then issued the Company an appropriate number of shares to extinguish the amounts due at the parent entity level.
