INOVIQ LTD — Capital/Financing Update 2016

Jun 16, 2016

Use of Funds

As the Public Offer was fully subscribed, the Company's expected use of funds in the 24 month period following completion of the Public Offer is as set out in the Replacement Prospectus which was as follows:

competon o te u	competon o te u	competon o te u	c er s as set out n te epacem	nt rospectus wc was as o	ows:	ows:
	Item		($)	% of funds availof the Public Off	able on completioner
	Cash on hand as at tProspectus		he date of this$1,010,000	-
	Capital raised under		Public Offer$3,000,000,of $383,652	less costs -
	Tl Fd Ailb		$3626348
	ota uns vaa		e,,	-
	Payments to the BARD1 Cash Vendors$306,8498.46%Repayment of a convertible noteissued by BARD1AG$69,9021.68%Costs associated with enhancement ofthe existing "proof of principle" BARD1Lung Cancer Test$102,0002.81%External costs associated with thePlanned Further Study$902,00024.87%Cost of full time employees to run thePlanned Further Study & undertakestatistical analysis$432,00011.91%Salary for Chief Scientific Officer$300,0008.27%
	M	aintenance & Development of the$120,0003.31%
	BAotthGeco	RD1AG Intellectual Property andher intellectual property owned bye Companyneral working capital, includingrporate and administrative costs(1)$1,393,59738.68%
TO	TO	TAL FUNDS ALLOCATED$3,626,348

Notes:

1. General working capital will be utilised by the Company to: (a) meet corporate costs up to the completion of the Offers, to pay for cost overruns in budgeted expenditures (if any), or in additional testing or trial expenditure and in the administration of the Company generally; and (b) reimburse UNIGE / HUG CHF 184,877 (AUD 255,907) in respect of costs incurred by them (or an affiliate) in relation to the European Project, and / or registration of the BARD1AG Intellectual Property.