ECAT 10.08.2001 - rund 75% Potential bis zum reinen Buchwert!!! - 500 Beiträge pro Seite

[earlgrey1]

ECAT 10.08.2001

...........................................................................................................................................................................................................

DAS LOGO:



...........................................................................................................................................................................................................

DIE FAKTEN:

- Venture Capital Gesellschaft

- letzter Kurs in Australien bei 0,031 AUD/share
- der Kurs von ECAT wurde bei niedrigen Umsätzen runtergetraded
---> aktuelle Marktkapitalisierung bei ca. 5,2 Mio. AUD

- Cash-Bestände aktuell bei ca. 4,5 Mio. AUD
---> Cash-Bestände decken damit schon fast den Börsenwert ab

- Wert der börsennotierten Beteiligungen aktuell bei ca. 3,1 Mio. AUD
- Buchwert der nicht börsennotierten Beteiligungen aktuell bei ca. 1,5 Mio. AUD
---> Beteiligungen sind damit gar nicht bzw. nur zu einem geringen Teil im Kurs eingepreist

- aktueller NTA bei 4,58 cents/share (Kurs bei 3,10 cents/share)
- aktueller (reiner) "Buchwert" (inkl. nicht realisierter Gewinne) bei 5,40 cents/share
---> Potential zwischen Kurs (3,1 cents) und "Buchwert" (5,4 cents) damit bei 75%

- nächster IPO einer Beteiligung = voraussichtlich Boron Molecular innerhalb der nächsten 12 Monate
- hoher Cash-Bestand gibt Phantasie für weitere Investitionen
- nicht gelistete Beteiligungen geben Kursphantasie (u.a. quotaler Cashbestand von Office Automation unter Buchwert von ECAT)
- ECAT hat sich während der Internet-Euphorie zurückgehalten und keine/kaum Investments in diesem Bereich getätigt
---> neben dem reinen "Buchwert" ist weitere Kursphantasie gegeben

- ECAT in Australien an ASX handelbar unter ECL / in Berlin handelbar unter WKN 922793

...........................................................................................................................................................................................................

DAS FAZIT:

- ECAT ist massiv unterbewertet
- aktuell 75% Potential bis zum reinen "Buchwert" des Portfolios

...........................................................................................................................................................................................................

DAS PROFIL:

ECAT Development Capital Limited is a
registered Pooled Development Fund,
investing in a portfolio of Australian
companies. ECAT looks to acquire
companies that are developing businesses
in niche and high growth areas and have
gross assets of less than $50 million.
Typically, ECAT will take stakes of more
than 10% by investing between $0.5 million
and $1.6 million and then provide strategic
advice to the investee. The current
management took control of ECAT in
September 1999. Since that time, they
have raised $9.2 million.

...........................................................................................................................................................................................................

DER 6-MONTH-CHART:



...........................................................................................................................................................................................................

DIE BÖRSE IN BERLIN AM 10.08.2001 (11:57 Uhr):

Kauf Orders

0,017 3.000
0,015 388.355

Verkauf Orders

0,020 71.000
0,023 86.100
0,024 186.100
0,030 208.100

...........................................................................................................................................................................................................

DIE LETZTE NTA-MELDUNG:

ECAT DEVELOPMENT CAPITAL LIMITED 2001-08-10 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
Please be advised that the NTA for each of the Company`s issued
voting shares, as at 31st July 2001 and pursuant to listing rule
4.12* was:

BEFORE PROVISION FOR AFTER PROVISION FOR
TAX ON UNREALISED GAINS TAX ON UNREALISED GAINS

4.58 cents/share 4.58 cents/share

As from 1 July 1996, Listing Rule 4.12 requires investment Entities
to calculate its NTA after allowing for the costs of an orderly
disposal (brokerage and stamp duty)) of the portfolio on the
reporting date; tax on realized gains; declared dividends and
management fees due. As shown above, Listing Rule 4.12 provides for
an NTA to be shown both pre and post provision for tax on unrealized
gains.

For comparative purposes we note that the closing market price for
the Company`
s shares on 31st July 2001 was 3.3 cents.

The Company reports its NTA based upon calculations made at the close
of business on the last business day of the month as is applicable.

A Pismiris
COMPANY SECRETARY

A full copy of this announcement, including NTA calculations as at
31/07/2001 is available for purchase from ASX Customer Service on 1
300 300 279. Charges apply.

...........................................................................................................................................................................................................

DAS PORTFOLIO:

Alle Werte: 10.08.2001

Börsennotierte Beteiligungen

Name Kürzel Stück Kurs Wert Investition Buchgewinn Gewinn/%

entity EIT.AX 1.696.600,00 0,120 203.592,00 500.000,00 -296.408,00 -59,28%
Sirtex SRX.AX 500.000,00 1,250 625.000,00 500.000,00 125.000,00 25,00%
Healthpoint HLT.AX 1.735.110,00 0,105 182.186,55 450.000,00 -267.813,45 -59,51%
Max Mulit. MXM.AX 2.100.000,00 0,045 94.500,00 1.575.000,00 -1.480.500,00 -94,00%
PIEnetw. PIE.AX 4.885.000,00 0,080 390.800,00 500.000,00 -109.200,00 -21,84%
Stratatel STE.AX 7.070.000,00 0,170 1.201.900,00 544.800,00 745.100,00 136,77%
StratatelOpt. STEO.AX 1.760.000,00 0,050 88.000,00
Hostworks HWG.AX 2.000.000,00 0,150 300.000,00 500.000,00 -200.000,00 -40,00%

Summe Börsenwerte: 3.085.978,55 4.569.800,00 -1.483.821,45 -32,47%

nicht börsennotierte Beteiligungen

Name Stück Ansch.kosten Wert

Boron Molecular 20.000,00 1.001.849,00 1.001.849,00
Matchnet 10.200.000,00 500.001,00 500.001,00
Office Automation Pty. ??? 5.000,00 5.000,00
Osprey Gold NL ??? 0,00 0,00
Smartnews 5.000.000,00 32.000,00 32.000,00

Summe der nicht notierten Beteiligungen 1.538.850,00

Summe Cashbestände 4.551.913,00

Summe Portfolio 9.176.741,55

Gesamtanzahl Aktien 168.806.139,00

Damit umgerechneter Wert je Aktie in AUD 0,054

Aktueller Kurs in Australien in AUD 0,031

Unterschied in % 75,36%

Umrechnungskurs AUD/EUR 0,578340

Damit umgerechneter Wert je Aktie in EUR 0,031

Aktueller Kurs in Deutschland in EUR 0,017

Unterschied in % 84,94%

...........................................................................................................................................................................................................

DIE MASSIVE UNTERBEWERTUNG:

Bemerkung AUD Unterschied/%

aktueller Börsenwert von ECAT 5.232.990,31
abzgl. aktuelle Cashbestände -4.551.913,00
abzgl. Wert der börsennotierten Beteiligg. -3.085.978,55

Unterbewertung -2.404.901,24 -45,96%

abzgl. Investition in nichtnotierte Beteiligg. -1.538.850,00

Unterbewertung -3.943.751,24 -75,36%

...........................................................................................................................................................................................................

DIE BETEILIGUNGEN:


http://www.entity1.com/


http://www.sirtex.com/


http://www.pienetworks.com


http://www.stratatel.com.au


http://www.maxmm.com


http://www.matchnet.com.au/


www.ecatdc.com.au


www.smartnews.com.au


www.ecatdc.com.au

...........................................................................................................................................................................................................

DIE QUELLEN:

www.ecatdc.com.au

www.stockhouse.com.au

www.berlinerboerse.de

www.smartnews.com.au

www.finance.yahoo.com

http://au.yahoo.com/

...........................................................................................................................................................................................................

DER KONTAKT:

mailto:[e-mail]

...........................................................................................................................................................................................................

DIE FRAGE:

Einsteigen, abwarten oder Finger weg?

...........................................................................................................................................................................................................


earlgrey1

[earlgrey1]

ECAT 10.08.2001

Nach eineinhalb Stunden 139x gelesen und keine Meinung?

Jetzt in Berlin folgendes Bild (14:08 Uhr):

Kauf Orders

0,017 3.000
0,016 103.000
0,015 488.355

Verkauf Orders

0,020 75.186
0,023 90.286
0,024 190.286
0,025 210.286
0,029 230.286
0,030 208.100


earlgrey1

[Dickhaut]

das Problem bei ECAT ist ,daß die Beteiligungen keine
Phantasie haben.
Auf gut dt.: Im Arsch sind, deshlab wohl ganz abgeschrieben werden müssen (bis auf die Biotech Beteiligung)
Aber wer weiß !??

[Dutcho]

noch nicht genug Geld verloren ????????????????

[earlgrey1]

ECAT / BETEILIGUNG AN STRATATEL

...........................................................................................................................................................................................................

STRATATEL LTD.:


http://www.stratatel.com.au

...........................................................................................................................................................................................................

Newsletter to Shareholders-August 2001
15/8/01 2:46:47 PM

STRATATEL LIMITED 2001-08-15 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
I am pleased to provide you with an update on your Company`s progress
and activities since listing in December 2000.

Despite difficult market conditions, Stratatel was successfully
listed on the Australian Stock Exchange ("ASX) on 8 December 2000,
raising $1.5m.

As has been previously announced to ASX, the
extended completion date
of the IPO affected the timing of implementation of the Company`s
business plan, in particular, the rollout to the Eastern States.

I am now pleased to report to you that our Sydney office was
established in January 2001 and our Melbourne office in March 2001.
Both offices are now fully operational, with revenue generation
having commenced in NSW and soon to commence in Victoria.

The reactions received as a result of our MobileFleet presentations
hav
e been extremely encouraging, in particular from government
agencies, where accountability for mobile telephone costs is clearly
an issue.

As evidence of this we have recently announced to the market a
contract for the provision of the MobileFleet management system on an
initial trial basis to a client with approximately 6,000 mobile
devices. Subject to the trial, which is for 400 mobile devices, we
expect to assume complete management of this client`s entire fleet.
We are a
lso at advanced stages of negotiations to enter into a
similar transaction with another client, also with 6,000 mobile
devices and have been well received by a number of other clients with
medium to large mobile fleets. Currently Stratatel is undertaking
trials with prospective clients who in aggregate have approximately
18,000 mobile devices.

These developments clearly reinforce the business case and commercial
credibility of our unique MobileFleet management system.

On an
other front, many of our existing and potential MobileFleet
customers have expressed strong interest in our fixed-line equivalent
of MobileFleet, Infratel. A number have requested that Stratatel
provide both MobileFleet and Infratel as a comprehensive package for
the management of their fixed-line and mobile telecommunications. As
a result, we have accelerated the development of Infratel and expect
the first version to be completed by October 2001. Based on our
experience to
date, we expect to see highly significant cross-selling
opportunities between MobileFleet and Infratel customers.

In summary, what is becoming clear is that despite the early delays,
our business plan and business model remain firmly intact. The
reduction and control of telecommunication costs continue to be a
significant issue for business and government and Stratatel`s unique
management systems are receiving growing customer awareness and
acceptance in that regard. I look
forward to providing you with
further news on the Company`s activities in due course.

M Fairclough
CEO Stratatel Ltd

...........................................................................................................................................................................................................

Quelle:

http://www.www.stockhouse.com.au

...........................................................................................................................................................................................................


earlgrey1

[earlgrey1]

ECAT 15.08.2001 / BÖRSE IN BERLIN

...........................................................................................................................................................................................................

Die Börse in Berlin am 15.08.2001, 12.10 Uhr:

Kauf Orders

0,017 3.000
0,015 338.355

Verkauf Orders

0,0190 100.000
0,020 171.000
0,023 186.100
0,024 286.000
0,025 306.100

...........................................................................................................................................................................................................

Aktueller Kurs in Australien bei 0,03 AUD, d.h. umgerechnet bei ca. 0,018 EUR.

...........................................................................................................................................................................................................

Klar sehe ich das genauso, daß das ECAT-Portfolio zum Teil keinen Anlaß zur Euphorie gibt. Fakt ist jedoch,
daß ECAT weiterhin massiv unterbewertet ist und von daher, gerechnet auf den reinen "Buchwert" der assets,
Chancen bietet. Oder welcher Wert bietet schon (fast) die Börsenkapitalisierung in cash auf und hat den
gleichen Wert nochmals in gelisteten und nicht gelisteten Beteiligungen im Portfolio liegen?

Fakt ist auch, daß wenn man ECAT liquidieren würde, jeder shareholder einen Gegenwert von ca. 0,054 AUD bzw.
0,031 EUR erhalten würde. Der Kurs von ECAT steht jedoch nur bei 0,03 AUD bzw. 0,018 EUR, so daß zwischen den
beiden Werten erhebliches Potential besteht.

Überdies bietet ECAT jedem Investor die Möglichkeit direkt die Wertentwicklung des Portfolios mitzuverfolgen,
während Du bei anderen Firmen ja immer auf deren Umsatzprognosen vertrauen mußt.

Genauso klar ist, daß der Kurs von ECAT - derzeit all-time-low - total besch... ist.

Aktien bieten Chancen und Risiken - jeder muß halt für sich selbst das Verhältnis abwägen. Außerdem wird ja keiner
zum Aktienkauf gezwungen.

Solange ich Lust habe, werde ich weiterhin ein paar Sachen zu ECAT ins Board stellen. Bin schon froh, wenn dann
bei bisher 321x Gelesen überhaupt jemand antwortet.

...........................................................................................................................................................................................................


earlgrey1

[earlgrey1]

ECAT 15.08.2001 / XETRA-HANDEL

Heute der erste Xetra-Handel seit dem 08.05.2001 und dann gleich ein so grandioser Handel:

4.186 St. zu 0,01 EUR, d.h. insgesamt 41,86 EUR Umsatz

Unglaublich!


earlgrey1

[earlgrey1]

ECAT 15.08.2001 / XETRA-HANDEL NACHTRAG

Da heißt es, ECAT bietet keine Chancen.

Angenommen, der Xetra-Käufer vertickert seine shares morgen in Berlin, dann würde er folgenden Gewinn machen können:

3.000 St. zu 0,017 EUR = 51,00 EUR (siehe Beitrag #6)
1.186 St. zu 0,015 EUR = 17,79 EUR (siehe Beitrag #6)
4.186 St. verkauft für insgesamt = 68,79 EUR
4.186 St. gekauft für insgesamt = 41,86 EUR (siehe Beitrag #7)
verbleiben vor Gebühren = 26,94 EUR
Gewinn vor Gebühren in Prozent = 64,33%

Der Typ könnte damit innerhalb eines Tages unfaßbare 64,33% Gewinn einfahren.

Bei welcher Aktie gibt es das schon?




earlgrey1

[earlgrey1]

GEWINNWARNUNG STRATATEL VOM 27.07.2001 / AKTUELLE KURSENTWICKLUNG

...........................................................................................................................................................................................................

ECAT-BETEILIGUNG AN STRATATEL:

Trotz der Gewinnwarnung vom 27.07.2001 hat sich Stratatel interessanterweise auf hohem Niveau stabilisiert.

Heute wurden in Australien rd. 187.000 St. zu 0,17 AUD bzw. 0,18 AUD gehandelt. Bid und Ask
standen sich zum Schluß bei 0,18 AUD zu 0,19 AUD gegenüber. Der Chart zeigt, daß in den letzten
Wochen größere Umsätze nur bei 0,17 AUD oder darüber möglich waren. Eine Korrektur wegen der
Gewinnwarnung ist offensichtlich auf dem aktuellen Niveau (ggf. bisher) ausgeblieben.



...........................................................................................................................................................................................................

ECAT / BÖRSE BERLIN:

In Berlin gibt es zwar seit Tagen nur einen Käufer mit 500.000 St. zu 0,015 EUR, der zwar durch Teilausführungen
ein paar Stücke aufkaufen konnte, jedoch größere Verkäufer bewegen sich erst in einem Korridor von 0,02 EUR bis
0,03 EUR. In Australien standen sich heute Bid und Ask bei 0,030 AUD zu 0,032 AUD gegenüber. 0,032 AUD entspricht
in etwa 0,0192 EUR, also in etwa dem, wo das niedrigste Ask in Berlin.

...........................................................................................................................................................................................................

Schauen wir mal, wie es weitergeht.


earlgrey

[earlgrey1]

ECAT 22.08.2001 / HANDEL IN DTLD.

Die Börse in Berlin am 22.08.2001, 11.50 Uhr:

Kauf Orders

0,012 258.976
0,015 200.000

Verkauf Orders

0,020 221.000
0,023 236.100
0,024 336.100
0,025 356.100
0,029 376.100

Seit Tagen also das gleiche Bild: Auf der Käuferseite nur Orders, die zu einem Abschlag
von 10% oder mehr gegenüber dem ECAT-Kurs in Australien kaufen wollen und auf der Ver-
käuferseite will (aktuell) niemand mit einem Abschlag gegenüber Australien verkaufen.
Der ECAT-Kurs lag heute in Australien bei 0,031 AUD. Zum Schluß standen 3 Bid bei 0,03 AUD
1 Ask bei 0,032 gegenüber.

Es wäre positiv, wenn ECAT in nächster Zeit mal wieder ein Investment bekannt geben würde,
immerhin liegen ja noch immer rund 4,5 Mio. AUD cash rum...


earlgrey1

[Saftladen]

betrifft beitrag #7 und #8

es waren 4186St. sowie 3000 St.

das leben ist schon hart , aber wenn man die 7186 St. in einem Jahr zum Beispiel für sagen wir mal 0,04 verkauft bei 40,-DM gebühren geht es gerade so.

ihr habt recht es gibt besseres, was solls

[earlgrey1]

ECAT-BETEILIGUNG AN HOSTWORKS



David Archer (Vorstandsmgl. bei ECAT) wurde neuer Vorstandsvorsitzender bei der ECAT-Beteiligung HOSTWORKS:

HOSTWORKS GROUP LIMITED 2001-08-23 ASX-SIGNAL-G

HOMEX - Adelaide

+++++++++++++++++++++++++
Hostworks Group Limited is pleased to announce a strengthening of its
board to support the current growth focus of the company.

Mr David Archer, currently a non-executive Director, has agreed to
become Chairman and Mr Peter Shore has joined the board as a non
executive Director.

Following the February 2001
merger of investment company Isec with
Hostworks Limited, to form Hostworks Group Limited, the company is
now solely focussed on the growth of its outsourced managed Internet
hosting business.

Mr David Archer takes over as Chairman from Mr Stephen Chapman, who
had been Chairman of Isec and continues as a Director of Hostworks.
Mr Archer has extensive experience in developing and growing new
businesses, including being the founder of PowerTel and Savage
Resources, and will ta
ke an active role in guiding the execution of
the immediate growth plans of Hostworks.

Mr Peter Shore brings to the board a wealth of current operating
experience in the telecommunications and IT sector, having been Group
Managing Director of Telstra`s Consumer Division.

Mr Archer said "Hostworks is the established leader in the emerging
and high growth outsourced managed Internet hosting sector. It is a
new and developing company and has a tremendous opportunity to
provide
the critical infrastructure and management services to
businesses who are now adopting Internet applications as key
platforms in their operations."

Mr Shore said "I am delighted to join Hostworks as it is a leader in
its field and has established credentials with its team having run
the biggest and most complex Internet hosting platform in Australia,
ninemsn, for the last 3 years".

Hostworks Managing Director, Mr Marty Gauvin, said "Hostworks
achieved 60% growth in annuali
sed revenue last year and has now
established a solid base for both direct and indirect sales with a
focussed team and its valued sales partnerships and alliances with
the likes of Cable and Wireless Optus". Mr Gauvin also said "the
company is very fortunate to have the support and guidance of a
highly experienced board, and in particular, the operational skills
of Mr Archer and Mr Shore".

Hostworks` board now comprises Mr David Archer (Chairman), Mr Stephen
Chapman; Mr Pete
r Shore, Mr Alex Adamovich, Mr Peter Carre; Mr Marty
Gauvin (Managing Director); and Mr Gary Thomas (Commercial Director).

About Hostworks Group Limited - www.hostworks.com.au

For any questions please contact:

David Archer
CHAIRMAN
0405 185 974

Marty Gauvin
MANAGING DIRECTOR
0418 843 550
[e-mail]

Ms Ali Cain
Cox Inall Communications
0411 725 593
[e-mail]

...........................................................................................................................................................................................................

@saftladen

Wie Du mit solchen Beträgen schneller an Geld rankommst:

http://www.geilepreise.de/

Für das Geld kannst Du unter o.g. Adresse wer weiß wie lange surfen und an so vielen Gewinnspielen teilnehmen, wie Du willst.
Und Deine Chancen sind unbegrenzt. Stell´ Dir nur vor, Du surfst für 1,00 DM, nimmst an einem Gewinnspiel teil und gewinnst
schließlich 1.000.000,00 DM, das wären dann unglaubliche 100.000.000% Gewinn. Wo kriegst Du das sonst schon?

Ich sollte direkt einen Thread aufmachen mit "100.000.000% oder mehr möglich!!!!!!".

Aber wenn ich recht üerlege: Das mit dem Thread lasse ich lieber, denn da würden dann Zugriffszahlen auflaufen, die einen
erschaudern lassen würden...



...........................................................................................................................................................................................................

So long,


earlgrey1

[earlgrey1]

ECAT-BETEILIGUNG AN PIENETWORKS


http://www.pienetworks.com

Neuer Auftrag für PieNetworks:

PIENETWORKS LIMITED 2001-08-28 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
The Company is pleased to announce that it has entered into a Heads
of Agreement ("HoA") with BankWest Limited to install and manage
BankWest`s in-branch web terminals which provide customers with easy
access to BankWest Online Banking.

pieNETWORKS has already installed terminals in BankWest`s recently
opene
d new customer service centres at Garden City in Booragoon,
Ocean Keys and Wembley, its refurbished Hay Street facility and 20
other BankWest branches. The HoA provides for the installation of a
minimum of 26 pieLINK web terminals over an initial minimum period of
12 months. In consideration for the provision of pieLINK
infrastructure and management services, pieNETWORKs will receive a
monthly fee based on the number of installed terminals.

A copy of the Company`s media rele
ase is appended hereto.

C Smith
MANAGING DIRECTOR

For more information, please contact Campbell Smith at pieNETWORKs
on 08 9444 9088.


MEDIA RELEASE

PIENETWORKS MOVES INTO BANKING SECTOR WITH BANKWEST
CONTRACT

BankWest customers are set to learn about internet banking in the
comfort of the bank chamber following a deal with pieNETWORKS,
Australia`s leader in public internet infrastructure.

Best known for its red, coin-operated pieLINK internet k
iosks,
pieNETWORKS have moved into the banking sector and will install and
manage BankWest`s in-branch web terminals which provide customers
with easy access to BankWest Online Banking.

pieNETWORKS has already installed terminals in BankWest`s recently
opened new customer service centres at Garden City in Booragoon,
Ocean Keys and Wembley, its refurbished Hay Street facility and 20
other BankWest branches.

"The web terminals enable BankWest`s customers to become familiar
wi
th online banking and the internet in general. For BankWest`s
customers the devices are reliable, functional and familiar. Behind
the scenes we engage our pro-active management information system to
monitor, measure and manage the network of devices which ensures
maximum availability and customer satisfaction," pieNETWORKS`
Managing Director Campbell Smith said.

"We are very pleased at being awarded the BankWest contract as it now
gives us market leadership in three sectors
of the public internet
access infrastructure market, being pay for use, government and
banking. The two fundamental ingredients for success in providing
public internet access infrastructure are reliability and efficient
management systems and we believe we excel at both," concluded Smith.

pieNETWORKS is a market leader in the Australian public internet
access infrastructure market. In addition to operating over 300 of
its own pay per use pieLINK kiosks it has contracts with
the
Victorian Department of Human Services, the West Australian
Department of Commerce and Trade and Caltex Australia Limited.
pieNETWORKS is an "end to end" solution provider with its own
proprietary technology, ongoing R & D in both software and hardware,
assembly and installation, customer support services and ongoing
network management.

The BankWest roll-out takes the total number of pieNETWORKS` kiosks,
screens and devices to over 650.

For more information, please con
tact:

Campbell Smith
MANAGING DIRECTOR
pieNETWORKS Ltd
www.pienetworks.com
[phone]
[e-mail]

Paul Downie
MANAGING DIRECTOR
Turnbull Porter Novelli
[phone]
0414 947 129
[e-mail]


earlgrey1

[earlgrey1]

ECAT-BETEILIGUNG AN SIRTEX MED.


http://www.sirtex.com/

SIRTEX MEDICAL LIMITED 2001-09-03 ASX-SIGNAL-G

HOMEX - Sydney

+++++++++++++++++++++++++
Liver cancer treatment specialist, SIRTeX Medical Limited announced
today that it has completed patient entry into a new randomised Phase
2 clinical trial in patients with advanced liver cancer.

This study was undertaken in two hospitals in Perth and one hospital
in Brisbane in order to expand the indication
s of the use of
SIR-Spheres(R), SIRTeX`s lead anti-cancer product. SIR-Spheres(R) is
a one-off treatment whereby a medical radioisotope, Yttrium(90), is
implanted into the liver via a patented delivery system. The
radioisotope targets the cancerous cells within the liver destroying
them whilst minimising damage to normal liver cells.

The trial enrolled 21 patients suffering from bowel cancer that had
subsequently spread to the liver.

Patients with this very common form of c
ancer are usually treated
with systemic chemotherapy using a combination of drugs that are
administered into the patient`s general circulation. Although
chemotherapy is the most widely accepted best treatment currently
available for these patients, it offers only a short extension of
life. SIR-Spheres(R) could significantly improve on what has been
regarded as best standard treatment.

This Phase 2 trial was designed to show the response rate and the
toxicity profile of the S
IR-Spheres(R) treatment in combination with
conventional treatment regimens, in comparison to conventional
treatments alone. If the results are positive in favour of
SIR-Spheres(R), then a further trial could be undertaken to see how
much longer patients live if they are treated with SIR-Spheres(R).

In previous clinical trials, SIRTeX has shown that SIR-Spheres(R)
used in conjunction with a regional chemotherapy regimen (delivered
directly into the blood supply of the liver)
, resulted in a greatly
increased rate of regression of the tumours. The purpose of this new
trial was to see if the same benefit could be obtained using systemic
chemotherapy, which is now more commonly used than regional
chemotherapy.

SIRTeX considers this new trial a most important step in expanding
the indications for use of SIR-Spheres(R). The results from the trial
are not yet available, but will be subsequently analysed and
published in the international medical lite
rature.

SIRTeX will continue to conduct ongoing clinical studies in Australia
and overseas in order to extend the indications for use of its
products, provide marketing opportunities and allow the medical
profession to gain experience with the company`s products.

ABOUT SIRTEX MEDICAL LIMITED

Further information can be obtained by contacting Dr Colin Sutton at
SIRTeX Medical Limited on [phone] (telephone), [phone]
(fax) or by visiting the company`s website at
www.sirtex.com.

C Sutton (PhD)
CHIEF EXECUTIVE OFFICER


earlgrey1

[Dutcho]

Aussie Zocks sind out, der NM bietet genug eigenes

[earlgrey1]

@ Dutcho

Du meinst quasi: lieber am (deutschen) Neuen Markt die ganze Kohle verzocken, als mit australischen Pennystocks arm werden.




earlgrey1

[earlgrey1]

ECAT-BETEILIGUNG AN MAX MULTIMEDIA


http://www.maxmm.com

MAX MULTIMEDIA LIMITED 2001-09-05 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
ASX MARKET RELEASE

Participating Organisations are advised that, subject to the approval
of shareholders at a general meeting to be held today,
5 September 2001, the share capital of Max Multimedia Limited (the
"Company") will be reorganised on a 1 for 5 basis. The reorganisation
will be effected by consol
idating every five fully paid ordinary
shares into one fully paid ordinary share.

The Company`s existing unquoted options will be consolidated in the
same ratio and their exercise price will be amended in inverse
proportion to that ratio.

Fractional entitlements will be rounded up.

Subject to shareholder approval, the Company will also undertake a
pro rata non renounceable issue of ordinary shares on a 2 for 1 basis
(the "Entitlements Issue").

The Entitlements Issue and
1:5 consolidation will be conducted
concurrently. In order to effect this, the timetable ordinarily
applying to pro rata non renounceable issues has been varied, the
effect of which is that the record date for the Entitlements Issue
has been brought forward 2 business days to 12 September 2001, the
fifth business day after the shareholders meeting. Accordingly, the
day on which the Company`s securities would be quoted on an "ex
entitlement" basis (if the Company`s securities
were not presently
suspended), is the day immediately following the shareholders meeting,
ie 6 September 2001.

The amended timetable for the 2:1 Entitlements issue and 1:5
consolidation is expected to be as follows.

EVENT

2:1 ENTITLEMENTS ISSUE 1:5 CONSOLIDATION DATE

General Meeting of General Meeting of 5 September 2001
shareholders to approve shareholders to approve
the Entitlemen
ts Issue the 1:5 consolidation of
capital

Securities would be Effective date for 6 September 2001
quoted an an "ex" basis consolidation
(if the Company`s
securities were not Trading would ordinarily
presently suspended commence in the company`s
from official quotation) reorganised securities on
a post-reorganisation
deferred settlement basis.

ASX Code: MXMDA
Securities remain
suspended

Record date to identify Last day for the 12 September 2001
shareholders entitled to company to register
participate in the transfers on a pre-
Entitlements Issue reorganisation basis

First day for the 13 September 2001
company to register

securities on a post-
reorganisation basis

Company sends out Despatch date 17 September 2001
prospectus and
entitlement acceptance Deferred settlement
forms to shareholders trading of the company`s
entitled reorganised securities
would normally end
ASX Code: MXM Securities

remain suspended

Acceptances close (except 4 October 2001
for Participating
Organisations)

Trading would ordinarily 5 October 2001
commence in the securities
issued under the
Entitlements Issue on a
deferred settlement basis
ASX Code: MXMN, MXM
Securities remain suspended

Acceptances from 9 October 2001
Participating Organisations
close

Despatch date
12 October 2002

Deferred settlement trading
of the Company`s securities
would ordinarily end
ASX Code: MXM
Securities remains
suspended

CHANGE OF NAME

Participating Organisations are also advised that, subject to
shareholder approval, the Company will change its name to Insolvency
Management Fund Limited. The new ASX code will be IMF.

SUSPENSION FROM OFFICIAL QUOTATION

The Company`s securities are presently suspended from official
quotation. It is expe
cted that they will remain suspended from
official quotation during the above timetable. Participating
Organisations will be advised by way of another Participant Circular
when the reinstatement of the Company`s securities occurs.

ASX CONTACT: Marian Tang
BUSINESS UNIT: Companies, Perth
DATE: 5 September 2001


Wenigstens wurde mit "Insolvency Management Fund Limited" ein schöner neuer Name gefunden...



earlgrey1

[SOM.you.]

RE: Max Multimedia

mal sehn was aus dieser Bude wird.
Zumindest ist ein relisting geplant, so daß noch ein paar AUD an Bewertung hin zu kommen.

SOM

[earlgrey1]

ECAT-BETEILIGUNG AN MAX MULTIMEDIA / Re: SOM.you.


http://www.maxmm.com


Mittlerweile sind auch die results of general meeting veröffentlicht worden:


MAX MULTIMEDIA LIMITED 2001-09-05 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
Insolvency Management Fund Limited (formerly Max Multimedia Limited)
is pleased to announce that at the general meeting of shareholders
held today that resolutions to the following effect were passed with
a show of hands:

1. Messrs Alden Halse, John Walker and Michael Bowen were elected as
directors of the
company. (At a meeting of directors held after the
general meeting Mr Halse was elected chairman of the company). [Proxy
votes were 25,060,999 for the resolution and none against].

2. Mr Timothy Gepp was re-elected as a director for the term of the
meeting. Mr Gepp and Mr Tim Lyons resigned their positions as
directors of the company after the meeting. At a directors meeting
following the AGM the Board accepted the resignation of Messrs Gepp
and Lyons). [Proxy votes were 2
5,060,999 for the resolution and none
against].

3. The allotment and issue of 5,816,667 fully paid ordinary shares in
the capital of the company during the course of the previous 12 months
was ratified. (Proxy votes were 17,210,399 for the resolution and none
against).

4. The meeting authorised a significant change in the nature of the
company`s activities to a company providing litigation funding and
support services to insolvency and legal practitioners. [Proxy votes
were 17,460,999 for the resolution and none against].

5. Approval was given for the company to allot and issue 37,500,00
fully paid pre-consolidation shares in the capital of the company to
the shareholders of Insolvency Management Fund Pty Ltd as
consideration for the acquisition of all of the issued capital of
Insolvency Management Fund Pty Ltd. [Proxy votes were 17,210,399 for
the resolution and none against].

6. Approval was given for the grant of up to 94,478,400 IMF
options
exercisable into fully paid pre-consolidation shares in the capital
of the company at an issue price of 40 cents per share and the issue
94,478,400 fully paid ordinary shares upon the exercise of those
options. [Proxy votes were 17,210,399 for the resolution and 60,000
against].

7. Approval was given for the grant to Hugh McLernon of 18 million
options to acquire fully paid ordinary shares in the capital of the
company at an exercise price of 4 cents per share (on a

pre-consolidation basis) on or before three years from the date of
grant of the options. (Proxy votes were 17,210,399 for the resolution
and 60,000 against].

8. Approval was given for the grant to John Walker of 9 million
options to acquire fully paid ordinary shares in the capital of the
company at an exercise price of 4 cents per share (on a
pre-consolidation basis) on or before that date which is three years
from the date of grant of the options. [Proxy votes were 17,1
95,399
for the resolution and 62,129 against].

9. The company changed its name to Insolvency Management Fund
Limited
and the constitution was amended accordingly. [Proxy votes were
25,060,999 for the resolution and none against].

10. The issued capital of the company to be consolidated on the basis
that every 5 fully paid ordinary shares in the capital of the company
be consolidated into 1 fully paid ordinary share. [Proxy votes were
25,060,999 for the resolution and none
against].

11. The company approved a non-renounceable rights issue of fully
paid ordinary shares on the basis of two shares for every one share
held by a shareholder on the record date at an issue price of 20 cents
per share (on a post-consolidation basis). [Proxy votes were
17,210,399 for the resolution and none against].

12. The company approved the allotment and issue of 12,500,000 fully
paid ordinary shares in the capital of the company at an issue price
of not less
than $0.20 per share (on a post-consolidated basis).
[Proxy votes were 17,210,399 for the resolution and none against].

13. The resolutions referred to above were conditional upon the
passing of each such resolution. [Proxy votes were 25,060,999 for the
resolution and none against].

The company will carry on business from offices in Perth and Sydney
with the Board consisting of Alden Halse as Chairman, Hugh McLernon
as Managing Director, John Walker and Michael Bowen.

The company will today lodge a prospectus to raise $7.26 million and
will proceed with the $2.5 million placement on or shortly after the
record date.

S Spiers
Company Secretary


Besonders die Punkte 10.-12. sind interessant.

Da ECAT ja (vor der Umstellung) 2,1 Mio. Aktien hält, wäre natürlich jede Höherbewertung von MXM willkommen, die zur Erhellung des arg gebeutelten ECAT-Portfolios beitragen könnte.


earlgrey1

[earlgrey1]

ECAT-BETEILIGUNG AN PIENETWORKS


http://www.pienetworks.com

Neuer Auftrag für PieNetworks:

PIENETWORKS LIMITED 2001-09-07 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
pieNETWORKS Ltd is pleased to announce the signing of a contract
between the Company and the Secretary to the Department of Human
Services (Victoria) ("DHS") for the extension of services by
pieNETWORKS for one year with an option to extend for a further one
year to 31 August 2003.

The contract extends for a
minimum period of twelve months the
turnkey service provided by pieNETWORKS to DHS in support and
management of the full functionality of the 130 pieLINK terminals
sold to DHS in 2000. In addition, DHS has taken an option to extend
the contract for a further 12 months from 1 September 2002.

DHS`s Internet site, known as the `Better Health Channel` utilises
the pieNETWORKS` developed network of Public Access Terminals
("PAT`s") as an information distribution channel and prov
ides
Victorians with free instant access to reliable, up to date
information on health and health services. The Better Health Channel
PAT`s program was launched in August 2000 and has resulted in a
substantial increase in usage and awareness of DHS`s
www.betterhealthchannel.com.au website.

The Managing Director of pieNETWORKS, Mr Campbell Smith, said that
"the extension of the DHS contract, which comes hard on the heels of
recent contracts with the Western Australian Departm
ent of Commerce
and Trade and BankWest Limited, further strengthens pieNETWORKS`
"locked in" revenue and diversification.

C Smith
MANAGING DIRECTOR

For more information contact Campbell Smith at pieNETWORKS on (08)
9444 9088.


earlgrey1

[earlgrey1]

ECAT / NTA-MELDUNG


http://www.ecatdc.com.au

ECAT DEVELOPMENT CAPITAL LIMITED 2001-09-10 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
Please be advised that the NTA for each of the Company`s issued
voting shares, as at 31st August 2001 and pursuant to listing rule
4.12* was:

BEFORE PROVISION FOR AFTER PROVISION FOR
TAX ON UNREALISED GAINS TAX ON UNREALISED GAINS

4.46 cents/share 4.46 cents/share

* As from 1 July
1996, Listing Rule 4.12 requires Investment Entities
to calculate its NTA after allowing for the costs of an orderly
disposal (brokerage and stamp duty) of the portfolio on the
reporting date; tax on realized gains; declared dividends and
management fees due. As shown above, Listing Rule 4.12 provides for
an NTA to be shown both pre and post provision for tax on unrealized
gains.

For comparative purposes we note that the closing market price for
the Company`s shares on 31st
August 2001 was 2.5 cents.

The Company reports its NTA based upon calculations made at the close
of business on the last business day of the month as is applicable.

A Pismiris
COMPANY SECRETARY

A full copy of the NTA Calculation is available for purchase from ASX
Customer Service on 1 300 300 279. Charges apply.


earlgrey1

[earlgrey1]

ECAT-BETEILIGUNG AN STRATATEL


http://www.stratatel.com.au

Der chief investment officer von ECAT ist jetzt zugleich auch Direktor von Stratatel:

STRATATEL LIMITED 2001-09-11 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
Stratatel Ltd announced the appointment today of a new Director, Mr
Philip Rees.

Mr Rees is currently the chief investment officer of ECAT Development
Capital Ltd.

Mr Rees replaces Mr Akshay Bhandari who today announced his
retirement from the board, to pursue other interests.

Mr Rees has had extensive exp
erience in financial markets, most
recently managing a $2 billion investment portfolio for the West
Australian government superannuation fund. He was previously
Portfolio Manager for a $1 billion equity fund in Brisbane and an
Industrial Analyst for a major Australian Stockbroker.

Mr Rees has a Bachelor of Commerce from the University of Western
Australia, a graduate Diploma in Applied Finance and Investments, is
a Certified Practising Accountant and a Chartered Financial An
alyst.

Stratatel listed on the Australian Stock Exchange in December 2000.
Its primary business is managing and brokering Government and
Corporations mobile telephone fleets and telephone landline
utilisation.

For further information:
Michael Fairclough
Ph: 09 9486 9486



earlgrey1

[earlgrey1]

ECAT / AKTUELLE KURSENTWICKLUNG


http://www.ecatdc.com.au

- der ECAT-Kurs steht an der ASX derzeit bei 0,025 AUD/share
- Bid und Ask stehen sich bei 0,025 AUD zu 0,030 AUD gegenüber



- an der Berliner Börse gab es seit Tagen keine nennenswerten Umsätze mehr
- in Berlin gibt es ein Bid mit 0,012 EUR bei 358.976 St., das mehreren Ask in einem Korridor von 0,015-0,200 EUR gegenübersteht



- bei einem Kurs von 0,025 AUD/share hat ECAT einen Börsenwert von ca. 4,22 Mio. AUD
- die cash-Bestände von ECAT liegen bei ca. 4,55 Mio. AUD
--> der Börsenwert von ECAT ist durch die cash-Bestände mehr als abgedeckt

- der aktuelle NTA liegt mit 4,46 AUD/share um ca. 78% über dem aktuellen Kurs von ca. 0,025 AUD/share
- bei einem Kurs von 0,025 AUD/share ergibt sich nunmehr ein Potential von ca. 116% zum reinen "Buchwert" in Höhe von ca. 0,054 AUD/share
--> Unterbewertung von ECAT hält an

- die Kursentwicklung der ECAT-Beteiligungen ist mit Ausnahme von Stratatel weiterhin unbefriedigend
- insbesondere der Kurs von Sirtex Medical ist in den letzten Wochen stark eingebrochen, während sich die anderen Beteiligungen (ausgenommen STE) auf niedrigem Niveau stabilisiert haben
- bei den ECAT-Beteiligungen Stratatel und Hostworks sind nunmehr auch ECAT-Verantwortliche in Personalunion in die Unternehmensleitungen eingestiegen
- der IPO-Termin von Boron Molecular ist noch unbekannt / wegen des schlechten Marktumfeldes wird dieser jedoch noch auf sich warten lassen
- weiterhin hohe cash-Bestände bei ECAT / neue Investitionen lassen auf sich warten



earlgrey1

[earlgrey1]

ECAT-BETEILIGUNG AN SIRTEX MEDICAL


http://www.sirtex.com/

SIRTEX MEDICAL LIMITED 2001-09-12 ASX-SIGNAL-G

HOMEX - Sydney

+++++++++++++++++++++++++
SIRTEX MEDICAL LIMITED (ASX: SRX) - SIRTEX ISSUES ITS
PRELIMINARY
FINANCIAL RESULTS

SIRTeX issued its preliminary financial report (Appendix 4B attached)
and the Chairman`s and CEO`s report which is included below.

CHAIRMAN`S AND CEO`S REPORT FOR FOR YEAR ENDED 30 JUNE
2001

In fiscal 2001 SIRTeX Medical co
ntinued building solid foundations
and moving towards becoming a significant international medical
device business. These included relocating the company`s operations
from Perth to the hi-tech commercial area at North Ryde in Sydney,
recruiting qualified senior staff, developing its Information
Technology and Web-based systems, completing a new Phase 2 clinical
trial which will extend the indications for SIRT (Selective Internal
Radiation Therapy), gaining a unanimous recomme
ndation of approval
for SIR-Spheres(R) from United States FDA`s radiological panel and
appointing a distribution agent in the USA. The company also
implemented a new Quality Assurance system appropriate for an
international medical business.

Highlights from FY01 included:

* SALES INCREASE IN AUSTRALIA/ASIA PACIFIC

Sales revenue for FY01 was $378K which is an increase of 51% over
FY2000. Unit volume, increased by 56%. Gross margins remained above
77%. Sales were generated i
n Australia, New Zealand, Singapore, Hong
Kong and Thailand. Implants have now been carried out in
hospitals in Sydney, Canberra, Melbourne, Brisbane and Perth with
several new centres in Australia preparing to treat their first
patients in the near future. Our application to the Medical Services
Advisory Committee for Federal Government reimbursement is still
under consideration.

* EXPENDITURE WITHIN FORECASTS AND CASH POSITION STRONG

Gross cash outflow during FY01 was $3,
072K compared to $3,800K
forecast in the Prospectus. This included Research and Development
expenditure of $465K. Selling, general and administration costs were
above forecast while under-expenditure on capital expenditure more
than compensated. Net cash outflow from operating activities was
$1,439K. The company had in excess of $13,000K in cash reserves at 30
June 2001, most of which were held in A1 rated bill lines.

* FDA ADVISE SIRT IS APPROVABLE SUBJECT TO COMPLIANCE

FD
A approval requires a Pre-Marketing Approval (PMA) Application,
acceptance of safety and efficacy data and compliance with the
Quality Systems Regulations. The company`s PMA has been submitted
and
reviewed by the Radiological Panel which unanimously recommended
that
the application for SIR-Spheres(R) was approvable. The outstanding
conditions attached to this recommendation will have been met once
the FDA re-inspects our manufacturer Australian Radioisotopes (ARI)
in October
and confirms that all compliance issues have been
resolved.

In preparation for the anticipated FDA approval and final market
release, SIRTeX appointed Alpha Omega as its US import
agent/distributor and begun marketing to key opinion leaders in major
US teaching hospitals. These liver cancer specialists attended a
mini-symposium held during the American Society of Clinical Oncology
in San Francisco last May.

* EUROPEAN REGISTRATION WELL ADVANCED AND
PRE-MARKETING UNDERWAY

An experienced European executive was appointed on a part-time basis
to lay the groundwork for our entry into the European market. The
company has submitted its design dossier to its European Notified
Body, British Standard Inc, who will inspect our facilities later
this year. Key opinion leaders in the UK, France, Germany and Belgium
have been contacted and negotiations are well advanced towards the
use of SIRT in a multi-centre evaluation of its synergist effects
with variou
s new chemotherapies.

* OTHER NEW MARKETS BEING DEVELOPED

Asia - The company began market development activities in several new
market areas during FY01 including Malaysia and Thailand, where a
full-time sales executive has been based since November last year.
Our Medical Director, Dr Bruce Gray, conducted seminars throughout
Thailand training Thai oncologists and interventional radiologists on
the implant of SIR-Spheres(R). Exports to SIRTeX`s existing customers
in Singapo
re and Hong Kong continued throughout FY01.

South America - Product registration procedures were started in
Argentina, one of the leading potential markets in Latin America. The
Brazilian market will be addressed when economic conditions improve.

* MANUFACTURING PROCESS IMPROVED, SIMPLIFIED AND
PATENTED

The manufacturing process of SIRT1 has been optimised to achieve
shorter production cycles, increased output and significantly lower
costs. A new manufacturing agreement wa
s negotiated with ARI that
will allow both parties to benefit from the higher yields per
manufactured batch. SIRTeX is presently collaborating with other
parties to develop a new and simplified method of manufacturing SIRT,
which will remove the need for close access to a nuclear reactor. A
provisional patent application has been lodged to protect these
innovations.

* IT AND INTERNAL SYSTEMS STRENGTHENED

New Information Technology and management information systems have
bee
n implemented in the North Ryde facility. These include an
integrated LAN based IT and communication system which will allow for
direct order entry and capture of clinical data over the Internet.
Our websites www.sirtex.com and www.liver.cancer.com are presently
being upgraded to reflect a newer image and to make provision for
greater use of web based e-commerce systems. SIRTeX is in compliance
with all software licenses agreements and has recently been audited
by an external
software consultant.

* COMMITMENT TO R&D REMAINS HIGH WITH EXPENDITURE AT
$465K

Two major R&D projects remain the focus of our R&D expenditure namely
SIRT2 and the use of hyperthermia treatment of liver cancer.

SIRT2 - The development of a second-generation ceramic radioactive
micro-sphere that addresses the limited shelf life of SIRT1 and
simplifies the logistics of international distribution is at an
advanced stage. During the year we investigated irradiation in
various
reactor positions and conducted distribution studies in
animals. This work resulted in a new provisional patent covering
important rheological factors and novel ceramic micro-spheres.

Hyperthermia - Research into the use of hyperthermia in the treatment
of liver cancer progressed slowly during FY01. Our patented
hyperthermia process was finally tested in large animal trials after
considerable delays in installing the field generator at Royal Perth
Hospital. These trials whi
ch were undertaken with full ethics
committee approval and under Good Laboratory Practice guidelines,
yielded valuable information about this new technology platform.

Patents - Several new patent applications were filed during the year
and one of our material patents progressed to the national phase. The
company continues to place strong emphasis on protecting its
intellectual property position.

* CLINICAL TRIALS WITH SIRT AND SYSTEMIC CHEMOTHERAPY
GIVE POSITIVE
RESULTS

Phase 2 Clinical Trial Positive - Preliminary results from our recent
Phase 2 clinical trial confirmed that SIRT can be used to improve the
treatment response from current systemic chemotherapy agents. Newer
systemic chemotherapy agents for the treatment of liver cancer are
becoming established. SIRTeX continues to monitor these developments
and confirm the safety and efficacy of SIRT when used as a
combination therapy.

Clinical Papers - The results of our pivotal Phase 3 clin
ical trial
have been accepted for publication in an international peer review
journal and will appear later this year in the Annals of Oncology.

Medical Advisory Board (MAB) - An Australian MAB has been appointed
and recently met to advise the company on clinical matters. An
international MAB is presently being established and will contribute
significantly to the company`s international stature.

With these developments and the imminent approval of our first
product in the n
orthern hemisphere, the company is poised to generate
significant sales in the major international markets.

CG Roberts CN Sutton
CHAIRMAN CHIEF EXECUTIVE OFFICER

ABOUT SIRTEX MEDICAL LIMITED

Further information can be obtained by contacting Dr Colin Sutton at
SIRTeX Medical Limited on [phone] (telephone), [phone]
(fax) or by visiting the company`s website at www.sirtex.com.

C Sutton (PhD)
CHIEF EXECUTIVE OFFICER

MORE TO FOLLOW


earlgrey1

[earlgrey1]

ECAT-BETEILIGUNG AN MAX MULTIMEDIA / BRIEF AN ALLE AKTIONÄRE


http://www.maxmm.com

Brief an alle Aktionäre mit Informationen betreffend das Relisting:

MAX MULTIMEDIA LIMITED 2001-09-18 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
We refer to the rights issue prospectus for Insolvency Management
Fund Limited (formerly Max Multimedia Limited) dated 5 September
2001.

In accordance with the prospectus timetable, we confirm that a copy
of the prospectus together with personalised entitlement and
acceptance forms was forwarded to sharehold
ers on 17 September 2001.

We also attach, for release, a copy of a note to shareholders which
accompanied the prospectus.

S Spiers
COMPANY SECRETARY


LETTER TO SHAREHOLDERS

1. This note is going out to all of the shareholders of Max
Multimedia Limited (now named Insolvency Management Fund Limited)
(IMF or Company) from the Board of Directors of the Company. It
accompanies a prospectus for a rights issue to those shareholders and
should be sent in conjunction with that pr
ospectus.

2. It is, of course, prompted by the calamitous events which have
recently occurred in the US.

3. The purpose of the note is to outline the current position of IMF
as we finalize our rights issue.

4. The promoters of the litigation funding business (primarily Hugh
McLernon and Danny Hill) chose Max Multimedia Limited (now IMF) as
the vehicle to pursue the business because they, along with you, are
already shareholders of the Company and because it gave sharehold
ers
the opportunity to recoup share price losses arising out of the "tech
wreck" of April 2001.

5. The Company is completing a $2.5M share placement which despite
the US calamity is heavily oversubscribed. The Company will have a
cash position of $4M on completion of this raising.

6. The placement has enabled us to add a number of new major
shareholders, notably Thorney Holdings from the Pratt Group and Rob
Ferguson the ex MD at BT Australia.

7. We have also added individu
al brokers as new shareholders notably,
Peter Gunzberg from CIBC, Ivor Findlay from Findlay and Co and Tim
and Simon Lyons from Macquarie Porter Western.

8. As outlined in the recent notice of general meeting, we have repaid
the $2.6M in convertible notes on the basis that we can do much
better in the current debt climate than a 10% interest rate. The
Company is now debt free and has the $4M in cash referred to above.
In addition it has the opportunity to utilize the $3M dep
osit
facility referred to in the prospectus.

9. The rights issue is fully underwritten and fully sub underwritten.
$3.5 million of the $7.25 million to be raised in the rights issue
has been sub underwritten firm by Danny Hill, Hugh McLernon and John
Walker while the balance has been sub-underwritten by the Pratt
Group through Thorney and by individual broker members of Montagu
Stockbroking.

10. The litigation funding business is fully operational and IMF has
a full book of
cases and further opportunities.

11. The litigation funding business is classically countercyclical -
its major clients are insolvency practitioners.

12. Each of you, will of course, make your own investment decision in
relation to the rights issue based upon your own current
circumstances. The Board makes the point that the fundamentals of the
business (as set out in the attached prospectus) have improved rather
than have been dented by recent events.

13. IMF is due to r
elist on ASX in early October 2001 by which time
the full fallout from recent events should have been factored into
the market.

14. The Board hopes that all shareholders, large and small, will be
able to take advantage of the rights issue and retain their interest
in the future success of the litigation funding business.

H McLernon
MANAGING DIRECTOR


earlgrey1

[weitweg]

Statt ECAT kaufe ich lieber Lufthansa unter Buchwert.

ww

[earlgrey1]

ECAT-BEWERTUNG


http://www.ecatdc.com.au

Habe mal wieder die ECAT-Bewertung aktualisiert:

Alle Werte: 19.09.2001

Börsennotierte Beteiligungen

Name Kürzel Stück Kurs Wert Investition Buchgewinn

Healthpoint HLT.AX 1.735.110,00 0,080 138.808,80 450.000,00 -311.191,20
Hostworks HWG.AX 2.000.000,00 0,150 300.000,00 500.000,00 -200.000,00
Max Multi. MXM.AX 2.100.000,00 0,045 94.500,00 1.575.000,00 -1.480.500,00
nexus energy NXS.AX 1.696.600,00 0,095 161.177,00 500.000,00 -338.823,00
PIEnetw. PIE.AX 4.885.000,00 0,051 249.135,00 500.000,00 -250.865,00
Sirtex SRX.AX 500.000,00 0,550 275.000,00 500.000,00 -225.000,00
Stratatel STE.AX 7.070.000,00 0,190 1.343.300,00 544.800,00 877.700,00
StratatelOpt. STEO.AX 1.760.000,00 0,045 79.200,00

Summe Börsenwerte: 2.641.120,80 4.569.800,00 -1.928.679,20

nicht börsennotierte Beteiligungen

Name Stück Ansch.kosten Wert

Boron Molecular 20.000,00 1.001.849,00 1.001.849,00
Matchnet 10.200.000,00 500.001,00 500.001,00
Office Automation Pty. ??? 5.000,00 5.000,00
Osprey Gold NL ??? 0,00 0,00
Smartnews 5.000.000,00 32.000,00 32.000,00

Summe der nicht notierten Beteiligungen 1.538.850,00

Summe Cashbestände 4.551.913,00

Summe Portfolio 8.731.883,80

Gesamtanzahl Aktien 168.806.139,00

Damit umgerechneter Wert je Aktie in AUD 0,052

Aktueller Kurs in Australien in AUD 0,023

Unterschied in % 124,90%

Umrechnungskurs AUD/EUR 0,529779

Damit umgerechneter Wert je Aktie in EUR 0,027

Aktueller Kurs in Deutschland in EUR 0,011

Unterschied in % 149,13%



Zur Information: Abgeschlossene Transaktionen

Name Verkaufserlös Ansch.kosten Gewinn Gewinn/%

Aussie Online Ltd. 918.000,00 500.000,00 418.000,00 83,60%
Sustainable (Akt.+Opt.) 87.417,61 50.000,00 37.417,61 74,84%



Bemerkung AUD Unterschied/%

aktueller Börsenwert von ECAT 3.882.541,20
abzgl. aktuelle Cashbestände -4.551.913,00
abzgl. Wert der börsennotierten Beteiligg. -2.641.120,80

Unterbewertung -3.310.492,60 -85,27%

abzgl. Investition in nichtnotierte Beteiligg. -1.538.850,00

Unterbewertung -4.849.342,60 -124,90%


Im allgemeinen Abwärtsstrudel der letzten Tage, haben auch viele ECAT-Beteiligungen an Wert verloren. Die Differenz zwischen Marktkapitalisierung und "Buchwert" hat sich weiter gesteigert. Weiterhin gibt es kaum Käufer für ECAT und die Käufer, die es gibt, bieten in Dtld. zu Kursen, die weit unter dem Kurs an der ASX liegen.


earlgrey1

[earlgrey1]

ECAT / HALBJAHRESBERICHT


http://www.ecatdc.com.au

ECAT DEVELOPMENT CAPITAL LIMITED 2001-09-13 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
CONSOLIDATED PROFIT AND LOSS ACCOUNT

CURRENT PREVIOUS
PERIOD CORRESPONDING
PERIOD
AUD000 AUD
000

1.1 Revenues from ordinary activities 201 1,776

1.2 Expenses from ordinary activities
(see items 1.24 + 12.5 + 12.6) (2,084) (2,924)

1.3 Borrowing costs - -

1.4 Share of net profit (loss) of
associates and joint venture
entities (see item 16.7) - -

1.5 Profit (loss) from ordinary
activities before tax (1,883)
(1,148)

1.6 Income tax on ordinary
activities (see note 4) - -

1.7 Profit (loss) from ordinary
activities after tax (1,883) (1,148)

1.8 Profit (loss) from extraordinary
items after tax (see item 2.5) - -

1.9 Net profit (loss) (1,883) (1,148)

1.10 Net profit (loss) attributable to
outside equity interests 9
1 32

1.11 Net profit (loss) for the period
attributable to members (1,792) (1,116)

CONSOLIDATED RETAINED PROFITS

1.12 Retained profits (accumulated losses)
at the beginning of the financial
period (12,768) (10,010)

1.13 Net profit (loss) attributable to
members (item 1.11) (1,792) (1,116)

1.14 Net transfers (to) and from reser
ves - -

1.15 Net effect of changes in accounting
policies - -

1.16 Dividends and other equity distributions
paid or payable - -

1.17 Retained profits (accumulated losses)
at end of financial period (14,560) (11,126)

PROFIT RESTATED TO EXCLUDE AMORTISATION
OF GOODWILL

1.18 Profit (loss) from ordinary activi
ties
after tax before outside equity
interests (items 1.7) and amortisation
of goodwill (1,530) (1,106)

1.19 Less (plus) outside equity interests 91 32

1.20 Profit (loss) from ordinary activities
after tax (before amortisation of
goodwill) attributable to members (1,439) (1,074)

PROFIT (LOSS) FROM ORDINARY ACTIVITIES
ATTRIBUTABLE TO MEMBERS

1.21 Profit (loss) from ordinary activ
ities
after tax (item 1.7) (1,549) (1,148)

1.22 Less (plus) outside equity interests 91 32

1.23 Profit (loss) from ordinary activities
after tax, attributable to members (1,458) (1,116)

REVENUE AND EXPENSES FROM ORDINARY ACTIVITIES

AASB 1004 requires disclosure of specific categories of revenue and
AASB 1018 requires disclosure of expenses from ordinary activities
according to either their nature of funct
ion. Entities must report
details of revenue and expenses from ordinary activities using the
layout employed in their accounts. See also items 12.1 to 12.6

Current Previous
Period Corresponding
Period
AUD000 AUD000

1.24 Details of revenue and expenses

O
perating Revenue:
Proceeds from sale of investments 62 1,609
Other Revenue:
Interest 139 167
201 1,776

Operating Expenses:
Audit fees 14 24
Dire
ctors remuneration 65 24
Carrying value of investments sold 89 1,110
Unrealised profit/losses on investments 1,095 1,115
Superannuation contribution 25 3
Goodwill written off on consolidation 334 -
Other corporate and administrative
expenses* 462 648

2,084 2,924

* The item `Other Corporate and Administrative Expenses` combines all
other costs incurred by the Company for the year inclusive of such
items as ASX fees, bank charges, ASIC fees, insurances, printing and
statutory, subscriptions and publications, share registry costs,
annual reports, postage and couriers, telecommunications, legal fees,
maintenance of web site etc.

INTANGIBLE AND EXTRAORDINARY ITEMS

Consolidated - current period

Before Related Related Amount
tax tax outside (after
equity tax)
interests attributable
to members

AUD000 AUD000 AUD000 AUD000

2.1 Amort
isation of
goodwill 37 - 18 19

2.2 Amortisation of
other intangibles 14 - 7 7
Goodwill written off 334 - - 334

2.3 Total amortisation
of intangibles 385 - 25 360

2.4 Extraordinary items - - - -
(details)

2.5 Total extraordinary
items -
- - -

COMPARISON OF HALF YEAR PROFITS Current Previous
(Preliminary final report only) year year
AUD000 AUD000
3.1 Consolidated profit (loss) from
ordinary activities after tax
attributable to members reported
for the 1st half year (item 1.23
in the half yearly report) N/A N/A

3.2 Consolidated
profit (loss)
from ordinary activities after tax
attributable to members for the 2nd
half year N/A N/A

CONSOLIDATED BALANCE SHEET

At end of As in last As in last
current annual half yearly
period report report
AUD000 AUD000 AUD000
CUR
RENT ASSETS
4.1 Cash 4,501 5,858 6,717
4.2 Receivables 18 19 777
4.3 Investments 2,088 2,304 1,374
4.4 Inventories - - -
4.5 Other (provide details
if material) 25 22 10

4.6 Total current assets 6,632
8,203 8,878

NON-CURRENT ASSETS
4.7 Receivables - - -
4.8 Investments (equity
accounted) 1,039 1,000 2,042
4.9 Other investments - - -
4.10 Inventories - - -
4.11 Exploration and evaluation
expenditure capitalised
(see para.71 of AASB 1022) - - -
4.12
Development properties
(mining entities) - - -
4.13 Other property, plant and
equipment (net) 11 10 3
4.14 Intangibles (net) 128 514 595

4.15 Other (provide details if
material) - - -

4.16 Total non-current assets 1,178 1,524 2,640

4.17 Total assets 7,810
9,727 11,518

CURRENT LIABILITIES
4.18 Payables 21 65 70
4.19 Interest bearing
liabilities - - -
4.20 Provisions 13 - -
4.21 Other (provide details if
material) - - -

4.22 Total current liabilities 34 65 70

NON-CURRENT LIABILITIES
4.2
3 Payables - - -
4.24 Interest bearing
liabilities - - -
4.25 Provisions - - -
4.26 Other (provide details if
material) - - -

4.27 Total non-current
liabilities - - -

4.28 TOTAL LIABILITIES 34 65
70

4.29 NET ASSETS 7,776 9,662 11,448

EQUITY
4.30 Capital/contributed equity 20,835 20,835 20,835
4.31 Reserves 1,290 1,290 1,290
4.32 Retained profits
(accumulated losses) (14,560) (12,768) (11,126)
4.33 Equity attributable to
members of the parent
entity 7,565 9,357 10,999
4.34 Outside equity int
erests in
controlled entities 211 305 449

4.35 Total equity 7,776 9,662 11,448

4.36 Preference capital included
as part of 4.33 - - -

EXPLORATION AND EVALUATION EXPENDITURE CAPITALISED
To be completed only by entities with mining interests if amounts are
material. Include all expenditure incurred regardless of whether
written off directly against profit.

Current Previous
period corresponding
period
AUD000 AUD000

5.1 Opening balance - -

5.2 Expenditure incurred
during current period - -

5.3 Expenditure w
ritten off
during current period - -

5.4 Acquisitions, disposals,
revaluation increments, etc. - -

5.5 Expenditure transferred to
Development Properties - -

5.6 Closing balance as shown in
the consolidated balance sheet
(item 4.11) - -

DEVELOPMENT PROPERTIES
(To be completed only by entities
with mining interests if amounts
are material)
Current Previous
period corresponding
period
AUD000 AUD000

6.1 Opening balance - -

6.2 Expenditure incurred
during current period -
-

6.3 Expenditure transferred from
exploration and evaluation - -

6.4 Expenditure written off
during current period - -

6.5 Acquisitions, disposals,
revaluation increments, etc. - -

6.6 Expenditure transferred to
mine properties - -

6.7 Closing balance as shown in
the consolidated balance sh
eet
(item 4.12) - -

CONSOLIDATED STATEMENT OF CASH FLOWS

Current Previous
period corresponding
period
AUD000 AUD000
CASH FLOWS RELATED TO OPERATING ACTIVITIES

7.1 Receipts from customers
- -

7.2 Payments to suppliers and
employees (526) (612)

7.3 Dividends received from
associates - -

7.4 Other dividends received - -

7.5 Interest and other items
of similar nature received 146 150

7.6 Interest and other costs of
finance paid -
-

7.7 Income taxes paid - -

7.8 Other - GST Paid (20) -

7.9 Net operating cash flows (400) (462)

CASH FLOWS RELATED TO INVESTING ACTIVITIES

7.10 Payment for purchases of property,
plant and equipment (12) (4)

7.11 Proceeds from sale of property, plant
and equipment
- -

7.12 Payment for purchases of equity
investments (1,007) (4,133)

7.13 Proceeds from sale of equity
investments 62 1,102

7.14 Loans to other entities - -

7.15 Loans repaid by other entities - -

7.16 Other (provide details if material) - (405)

7.17 Net investing
cash flows (957) (3,440)

CASH FLOWS RELATED TO FINANCING ACTIVITIES

7.18 Proceeds from issues of securities
(shares, options, etc.) - 7,460

7.19 Proceeds from borrowings - -

7.20 Repayment of borrowings - -

7.21 Dividends paid - -

7.22 Other (provide details if material) - -

7.23 N
et Financing Cash Flows - 7,460

7.24 NET INCREASE (DECREASE) IN CASH HELD (1,357) 3,558

7.25 Cash at beginning of period 5,858 3,159
(see Reconciliation of cash)

7.26 Exchange rate adjustments to item
7.25 - -

7.27 Cash at end of period
(see Reconciliation of cash) 4,501 6,717

NON-CASH FINANC
ING AND INVESTING ACTIVITIES
Details of financing and investing transactions which have had a
material effect on consolidated assets and liabilities but did not
involve cash flows are as follows. If an amount is quantified, show
comparative amount.

-
RECONCILIATION OF CASH

Reconciliation of cash at the end of Current Previous
the period (as shown in the consolidated period corresponding
statement of cash flows) to the related p
eriod
items in the accounts is as follows. AUD000 AUD000

8.1 Cash on hand and at bank 12 249

8.2 Deposits at call 56 6,468

8.3 Bank overdraft - -

8.4 Other - Bank bills 4,433 -

8.5 Total cash at end of
period (item 7.27) 4,501 6,717

RATIOS
Current Previous
period corresponding
period
PROFIT BEFORE TAX / REVENUE
9.1 Consolidated profit (loss) from
ordinary activities before tax
(item 1.5) as a percentage of
revenue (item 1.1) (770) % (71.35) %

PROFIT AFTER TAX / EQUITY INTERESTS
9.2 Consolidated net profit (loss) from
ordinary activiti
es after tax
attributable to members (item 1.9)
as a percentage of equity (similarly
attributable) at the end of the
period (item 4.33) (24.89) % (10.43) %

EARNINGS PER SECURITY (EPS) Current Previous
period corresponding
period
10.1 Calculation of the following
in accordance with AASB 1027:

Earnings per Share

(a) Basic EPS (1.06) c (0.71) c

(b) Diluted EPS (if materially (1.06) c (0.71) c
different from (a))

(c) Weighted average number of
ordinary shares outstanding
during the period used in
the calculation of the
Basic EPS 168,806,139 157,894,108

NTA BACKING Current Previous
(see
note 7) period corresponding
period
11.1 Net tangible asset backing
per ordinary security 4.53 6.50


Vor allem ein Wert schafft Vertrauen:

> 1.17 Retained profits (accumulated losses)
> at end of financial period (14,560) (11,126)

Denn wenn die Gewinne erst mal sprudeln, kann ECAT diese immer noch gegen die accumulated losses rechnen...




earlgrey1

[manfred1_I]

Da Ecat noch rd. 4,5 Mio. AUD Cash haben soll,
die Börsenbewertung nur bei lächerlichen 3,9 Mio.
AUD liegt, verstehe ich die Welt nicht mehr.

Da der Wert bei 5,2 A.Cents liegen müsste, und
heute war der Kurs bei 3,7 A-Cents Brief.

Immer noch spottbillig.
Im Gegensatz zu verschiedenen NM- Werten.

Sobald von der Fa. wieder eigene Aktien gekauft werden,
dürfte Aktie wieder bei 4 Acts. liegen.
Viel Glück allen.

[manfred1_I]

Heute geht es wieder rund bei Ecat.

Über 500 Tsd. Stck. Umsatz in AUS
Kurs zuletzt 3,8 Acts. Bid ,4,6 Acts. Ask.

Rückkäufe vermute ich.
+ 18,7 %.