Balance Sheet

Balance Sheet As at 30 September 2005

ASSETS 2005 2004 Current Assets $ $ Cash On Hand 114.30 114.30 Commonwealth Bank Cheque A/C 41,469.52 8,795.17 MLC Cash Management Trust A/C -6,319.17 12,819.76 CBA Term Deposit 250,000.00 0.00 Accounts Receivable 2,099.00 0.00 Fees Account 353.03 202.72 Total Current Assets 287,716.68 21,931.95

Non Current Assets Equipment at Cost 3,808.00 1,548.00 Accumulated Depreciation -1,781.00 -722.55 Total Non Current Assets 2,027.00 825.45

Total Assets 289,743.68 22,757.40

LIABILITIES Current Liabilities Trade Creditors 0.00 0.00 Total Liabilities 0.00 0.00

Net Assets 289,743.68 22,757.40

EQUITY Retained Earnings 22,757.40 12,044.87 Current Year Earnings 266,986.28 10,712.53 Total Equity 289,743.68 22,757.40