CONNEXION MOBILITY LTD — Capital/Financing Update 2012

Jan 31, 2012

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1 February 2012

Capital Structure and Pro Forma Balance Sheet

Further to the announcement by ECSI Limited ( Company ) on 27 January regarding the proposed acquisition of Coal and Uranium assets. The company became aware that the proposed Capital Structure and Pro Forma Balance Sheet were not attached to the announcement even though they were mentioned.

For further information, please contact the Company.

George Karafotias

Director – 0421 086 550

docs 3370254v2 RHEL

			Pro forma balance sheet	Pro forma balance sheet
ECSI Limited				1	2	3
				Proposed	Capital Raising net	Purchase of
	ECS	URANIUM	COAL	Placement	of Transaction Costs	Assets	Proforma
ASSETS	A$	A$	A$	A$	A$	A$	A$
Current Assets
Cash	150,000	884	100,000	250,000	4,500,000	_	5,000,884
Trade& other receivable	_	_		_	_	_
Inventory	_	_	25,000	_	_	_	25,000
Financial assets	20,000	_	_	_	_	_	20,000
Total Current Assets	170,000	884	125,000	250,000	4,500,000		5,045,884
Non-Current Assets
Fixed Assets	550	11,126	18,000	_	_	_	29,676
Intangible Assets	_	1,000,000	8,100,000	_	_	_	9,100,000
Investments
Investment in Sub-Uranium						8,000,000	8000000
Investment in Sub-Coal						17,700,000	17700000
Total Non Current Assets	550	1,011,126	8,118,000	_	_	25,700,000	34,829,676
Total Assets	170,550	1,012,010	8,243,000	250,000	4,500,000	25,700,000	39,875,560
LIABILITIES
Current Liabilites
Trade and Other Payables	10,000	_	45,000	_	_		55,000
Total Current Liabilities	10,000	_	45,000	_	_		55,000
Total Liabilities	10,000		45,000				55,000
Net Assets	160,550	1,012,010	8,198,000	250,000	4,500,000	25,700,000	39,820,560

EQUITY

EQUITY
Contributed Equity	92,739,285	1,400,000	8,455,000	250,000	5,000,000	25,700,000	133,544,285
Retained Earnings	-92,578,735	-387,990	-257,000	_	-500,000	_	-93,723,725
Total Equity	160,550	1,012,010	8,198,000	250,000	4,500,000	25,700,000	39,820,560

Notes

1. ECSI
   Considering
   a
   placement
   of
   $250,000

2. Cost
   of
   the
   transaction
   to
   acquire
   both
   the
   Uranium
   and
   Coal
   Assets
   estimated
   at
   $500,000.

3. Purchase
   of
   the
   Uranium
   and
   Coal
   Assets

**Pro

forma
capital
structure**

ECSI Ltd	Starting capital		506,536,387
Coal Acquisition	Total Vendor Shares		1,770,000,000
Uranium Acquisition	Total Vendor Shares		800,000,000
Total Shares			3,076,536,387
Consolidation	Consolidation 20:1		153,826,819
	Expanded capital post-transaction and post-consolidation		153,826,819
	Ownership structurepost-transaction andpost-consolidation
	initial shareholders		16.46%
	Coal Vendors		57.53%
	Uranium vendors		26.00%
	Total		100.00%
IPO	IPO raises $5m@20cents		25,000,000
	Expanded capital post-IPO		178,826,819
	Ownership structurepost-transaction
	IPO subscribers		13.98%
	Initial shareholders		14.16%
	Coal Vendors		49.49%
	African vendors		22.37%
	Total		100.00%