MYECO GROUP LTD — Interim / Quarterly Report 2009

Apr 26, 2009

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ACN 064 755 237

• TO : COMPANY ANNOUNCEMENTS OFFICE AUSTRALIAN SECURITIES EXCHANGE

DATE : 27 April 2009

APPENDIX 4C – QUARTERLY REPORT – 31[st] March 2009

Attached is the Appendix 4C for the quarter to 31[st] March 2009, for Cardia Technologies Limited and its controlled entities.

JOHN WILSON Company Secretary

CARDIA TECHNOLOGIES LTD

• REGISTERED OFFICE

• Suite 510 Level 5 Pacific Tower 737-741 Burwood Road Hawthorn Victoria 3122 Australia Telephone +61 3 9813 3228 Facsimile +61 3 9813 2668 Email: cardia@bigpond.com

Appendix 4C

Rule 4.7B

Appendix 4C Quarterly report for entities admitted on the basis of commitments

Quarterly report for entities admitted on the basis of commitments

Introduced 31/3/2000. Amended 30/9/2001

Name of entity
Cardia Technologies Ltd
ABN 89 064 755 237	Quarter ended(“currentquarter”)
89 064 755 237	31st March 2009

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from customers 1.2 Payments for (a) staff costs (b) advertising and marketing (c) research and development (d) leased assets (e) other working capital 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net operating cash flows	Current quarter $A’000	Year to date (9 months) $A’000
	42 (387) (10) - (7) (962) - 37 (88) - (2)	42 (625) (10) - (22) (1,245) - 202 (88) - (37)
	(1,377)	(1,783)
1.8 Net operating cash flows (carried forward)	(1,377)	(1,783)
Cash flows related to investing activities 1.9 Payment for acquisition of: (a) businesses (item 5) (b) equity investments (c) intellectual property (d) physical non- current assets (e) other non-current assets	424 - - (1) -	424 - - (1) (16)

• See chapter 19 for defined terms.

Appendix 4C Page 2

30/9/2001

1.10 Proceeds from disposal of: (a) businesses (item 5) (b) equity investments (c) intellectual property (d) physical non- current assets (e) other non-current assets 1.11 Loans to other entities 1.12 Loans repaid by other entities 1.13 Other investing activities Net investing cash flows 1.14 Total operating and investing cash flows	- - - - - - - -	- - - - - (300) - -
	423	(107)
	(954)	(1,676)
Cash flows related to financing activities 1.15 Proceeds from issues of shares, options, etc. 1.16 Proceeds from sale of forfeited shares 1.17 Proceeds from borrowings 1.18 Repayment of borrowings 1.19 Dividends paid 1.20 Other (provide details if material) Net financing cash flows	- - - (1,020) - -	424 - - (1,020) - -
	(1,020)	(596)
Net increase (decrease) in cash held 1.21 Cash at beginning of quarter/year to date 1.22 Exchange rate adjustments to item 1.21 1.23 Cash at end of quarter	(1,974) 5,144 (44)	(2,272) 5,144 (44)
	3,126	3,126

Note:

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.24 1.25		Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.11	Current quarter $A'000
			97
			-
1.26		Explanation necessary for an understanding of the transactions
		Item 1.24 Mr P Volpe was paid salary of $ 63,750 for the quarter. Directors’ fees totalling $32,917 were paid to Mr P Volpe - $ 13,750 , Mr Mr R.Armstrong - $7,500 and Mr John Scheirs - $ 4,167	P Pena- $ 7,500

Appendix 4C Quarterly report for entities admitted on the basis of commitments

Non-cash financing and investing activities

• 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

259,964,442 Ordinary Shares in Cardia and 259,964,442 Cardia Options exercisable at a price of $0.10 per share (expiring 30 June 2011) have been issued as a consideration for the acquisition of all issued shares of Biograde Limited on the basis of 2 Cardia Shares and 2 Cardia Options for each Biograde Share. The Merger with Biograde Limited through scheme of arrangement was completed on 6[th] March 2009 as announced to the Market on 10[th] March 2009.

• 2.2 Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest

n/a

Financing facilities available

Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	n/a	n/a
	n/a	n/a

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to therelateditemsinthe accountsis asfollows.	Current quarter $A’000	Previous quarter $A’000
4.1 Cash on hand and at bank 4.2 Deposits at call 4.3 Bank overdraft 4.4 Other (Term Deposits)	1,494	149
	1,632	4,995
	0	0
	0	0
Total: cash at end of quarter(item 1.23)	3,126	5,144

• See chapter 19 for defined terms.

Appendix 4C Page 4

30/9/2001

Acquisitions and disposals of business entities

5.1 Name of entity 5.2 Place of incorporation or registration 5.3 Consideration for acquisition or disposal 5.4 Total net assets 5.5 Nature of business	Acquisitions (Item 1.9(a))	Disposals (Item 1.10(a))
	Biograde Limited	-
	Victoria, Australia	-
	7,538,969	-
	*2,719,413	-
	Manufacturing and Distribution of Biodegradable Plastics	-

*The value of net assets has been determined provisionally. (Para 45, AASB 3- Business Combinations)

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.

• 2 This statement does give a true and fair view of the matters disclosed.

Sign here:

............................................................ Date: 27 April 2009. (Company Secretary)

Print name: John Wilson

Appendix 4C Quarterly report for entities admitted on the basis of commitments

Notes

1. The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

2. The definitions in, and provisions of, AASB 1026: Statement of Cash Flows apply to this report except for the paragraphs of the Standard set out below.

3. 6.2 - reconciliation of cash flows arising from operating activities to operating profit or loss

4. 9.2 - itemised disclosure relating to acquisitions

5. 9.4 - itemised disclosure relating to disposals

6. 12.1(a) - policy for classification of cash items

7. 12.3 - disclosure of restrictions on use of cash  13.1 - comparative information

8. Accounting Standards. ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

9. See chapter 19 for defined terms.

Appendix 4C Page 6

30/9/2001