RAIDEN RESOURCES LIMITED — Interim / Quarterly Report 2005

Jun 26, 2005

Notes for the Monthly App4C to May 31, 2004

MEDICAL MONITORS LIMITED AND CONTROLLED ENTITIES (ASX:MDM)

Medical Monitors Limited (ASX: MDM) has undertaken the production of the additional ECG devices as ordered by Primedical International (Primedical) for their USA-based cardiac monitoring service. As previously announced, this will generate more than USD\$1,000,000 (AUD\$1,300,000) in sales revenue to MDM over the next six months.

Primedical is the exclusive holder of license and distribution rights for MDM products and service for the USA. Medical Monitors has a direct benefit from both the manufacture and supply of devices (the $\mu$ PER) and a royalty stream from Primedical, which is estimated at USD \$300,000 (AUD\$390,000).

Primedical has informed Directors that their USA-based ECG monitoring business has significantly exceeded its sales expectations, with a revenue stream established through secured contracts to supply ECG units and monitoring service to a number of major medical clinics across the USA. Medical Monitors' technology and service model remains superior to the current market offerings in transtelephonic (telephone transfer) cardiac monitoring

MDM is well placed to take a substantial share of the lucrative US arrhythmia monitoring market, estimated to be valued at approximately USD\$550 million per annum. This technology allows doctors to remotely monitor the cardiovascular health of their patients, and has already been granted United States Food and Drug Administration (FDA) registration to enable marketing and sales.

Significant events in this quarter

The Company has received funds, through the Private Placement of shares to professional investors, which will be used as working capital for the production growth of inventory, and to consolidate the Company's position as a leading provider of remote monitoring products and services in the diagnostic monitoring market.

Dr Allan Shell Managing Director

Medical Monitors Limited Suite 407 Office Tower Westfield Eastgardens Eastgardens NSW 2036 Australia Tel 02 9344 8100 Fax 02 9344 8200

$Rule 4.7B$

Appendix 4C

Quarterly report for entities admitted on the basis of commitments

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

Name of entity

Medical Monitors Limited

ABN

68 009 161 522

Month ended

30 APRIL 2005

Consolidated statement of cash flows

		Current Month	Year to date
Cash flows related to operating activities		SA'000	$(10$ months)
			SA'000
1.1	Receipts from customers	10	414
$1.2\phantom{0}$	(a) staff costs Payments for	(36)	(520)
	(b) advertising and marketing		(307)
	(c) research and development		(257)
	(d) leased assets
	(e) other working capital	(138)	(947)
1.3	Dividends received
1.4	Interest and other items of a similar nature received		5
1.5	Interest and other costs of finance paid		(40)
1.6	Income taxes paid
1.7	Other (Govt Grants)	12	316
	Other (GST Refund)		25.
	Net operating cash flows	(151)	(1.311)

⁺ See chapter 19 for defined terms.

		Current Month \$A'000	Year to date $(10$ months) \$A'000
1.8	Net operating cash flows (carried forward)	(151)	(1,311)
1.9	Cash flows related to investing activities Payment for acquisition of:
	(a) businesses (item 5) (b) equity investments		(135)
	(c) intellectual property
	(d) physical non- current assets
	(e) other non-current assets		(65)
1.10	Proceeds from disposal of: (a) businesses (item $5$ )
	(b)equity investments
	(c) intellectual property (d) physical non-		63
	current assets		9
	(e) other non-current assets		150
1.11 1.12	Loans to other entities Loans repaid by other entities		(282)
1.13	Other (provide details if material)
	Net investing cash flows		(260)
1.14	Total operating and investing cash flows	(151)	(1,571)
	Cash flows related to financing activities
1.15	Proceeds from issues of shares, options, etc.	350	1,485
1.16 1.17	Proceeds from sale of forfeited shares Proceeds from borrowings		$\overline{\phantom{a}}$ 403
1.18	Repayment of borrowings		(413)
1.19 1.20	Dividends paid Other (Security Deposit)
	Net financing cash flows	350	1,475
	Net increase (decrease) in cash held	199	(96)
1.21 1.22	Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20	47 $\overline{a}$	342
1.23	Cash at end of quarter / month	246	246

⁺ See chapter 19 for defined terms.

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

		Current Month \$A'000
1.24	Aggregate amount of payments to the parties included in item 1.2	21
1.25	Aggregate amount of loans to the parties included in item 1.11

1.26 Explanation necessary for an understanding of the transactions

Consultancy fees paid to research entities controlled by directors.

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

$22$ Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest

Financing facilities available

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

		Amount available \$A'000	Amount used \$A'000
-3.1	Loan facilities
3.2	Credit standby arrangements	1.000	nil

⁺ See chapter 19 for defined terms.

Reconciliation of cash

Reconciliation of eash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.		Current Month \$A'000	Previous quarter \$A'000
4.1	Cash on hand and at bank	246	159
4.2	Deposits at call
4.3	Bank overdraft.
4.4	Other (provide details)
	Total: cash at end of quarter /month (item 1.22)	246	159

Acquisitions and disposals of business entities

		Acquisitions (Item $1.9(a)$ )	Disposals (Item $1.10(a)$ )
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

Compliance statement

• $\mathbf{1}$ 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.
• This statement does give a true and fair view of the matters disclosed. $\overline{2}$

Sign here:

Date: 10 May 2005

(Director)

Print name: Dr Allan Shell

⁺ See chapter 19 for defined terms.

Notes

• $1₁$ 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.
• The definitions in, and provisions of, AASB 1026: Statement of Cash Flows apply to this $2.$ report except for the paragraphs of the Standard set out below.
• $\bullet$ 62 - reconciliation of cash flows arising from operating activities to operating profit or loss
• $9.2$ - itemised disclosure relating to acquisitions $\bullet$
• 9.4 - itemised disclosure relating to disposals
• $12.1(a)$ policy for classification of cash items
• $12.3$ - disclosure of restrictions on use of cash
• $13.1$ - comparative information $\bullet$
• Accounting Standards. ASX will accept, for example, the use of International Accounting $3.$ 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.

⁺ See chapter 19 for defined terms.

$Rule 4.7B$

Appendix 4C

Quarterly report for entities admitted on the basis of commitments

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

Name of entity

Medical Monitors Limited

ABN

68 009 161 522

Month ended

31 MAY 2005

Consolidated statement of cash flows

Cash flows related to operating activities		Current Month SA'000	Year to date $(11$ months) \$A'000
1.1	Receipts from customers	34	448
$1.2\phantom{0}$	Payments for (a) staff costs (b) advertising and marketing (c) research and development	(37)	(557) (307) (257)
	(d) leased assets (e) other working capital	(186)	(1,133)
1.3	Dividends received
1.4	Interest and other items of a similar nature received	1	6
1.5	Interest and other costs of finance paid		(40)
1.6	Income taxes paid
1.7	Other (Govt Grants)	8	324
	Other (GST Refund)	18	43
	Other (Insurance Refund)	29.	29.
	Net operating each flows	(133)	71 44A)

⁺ See chapter 19 for defined terms.

		Current Month \$A'000	Year to date (11 months) \$A'000
1.8	Net operating cash flows (carried forward)	(133)	(1, 444)
1.9	Cash flows related to investing activities Payment for acquisition of: (a) businesses (item 5) (b) equity investments (c) intellectual property (d) physical non- current assets (e) other non-current		(135) (65)
1.10	assets Proceeds from disposal of:
	(a) businesses (item $5$ )
	(b)equity investments (c) intellectual property (d) physical non-		63
	current assets (e) other non-current assets		9 150
1.11	Loans to other entities	(26)	(308)
1.12 1.13	Loans repaid by other entities Other (provide details if material)
	Net investing cash flows	(26)	(286)
1.14	Total operating and investing cash flows	(159)	(1,730)
1.15 1.16 1.17 1.18 1.19 1.20	Cash flows related to financing activities Proceeds from issues of shares, options, etc. Proceeds from sale of forfeited shares Proceeds from borrowings Repayment of borrowings Dividends paid Other (Security Deposit) Net financing cash flows	250 250	1,735 403 (413) 1,725
	Net increase (decrease) in cash held	91	(5)
1.21 1.22	Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20	246	342
1.23	Cash at end of quarter / month	337	337

⁺ See chapter 19 for defined terms.

$\sqrt{1 + \sqrt{1 + \sqrt{1 + \sqrt{1 + \sqrt{1 + \sqrt{1 + \sqrt{1 + \sqrt{1 + \$

٦

$\overline{\phantom{0}}$

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

		Current Month \$A'000
1.24	Aggregate amount of payments to the parties included in item 1.2	20
1.25	Aggregate amount of loans to the parties included in item 1.11

1.26 Explanation necessary for an understanding of the transactions

Consultancy fees paid to research entities controlled by directors.

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

$22$ Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest

Financing facilities available

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

		Amount available \$A'000	Amount used \$A'000
3.1	Loan facilities
3.2	Credit standby arrangements	.000	nil

⁺ See chapter 19 for defined terms.

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.		Current Month \$A'000	Previous month \$A'000
4.1	Cash on hand and at bank	337	246
4.2	Deposits at call
4.3	Bank overdraft
4.4	Other (provide details)
	Total: cash at end of quarter/month (item 1.22)	337	246

Acquisitions and disposals of business entities

		Acquisitions (Item $1.9(a)$ )	Disposals (Item $1.10(a)$ )
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

Compliance statement

• $\mathbf{1}$ 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.
• This statement does give a true and fair view of the matters disclosed. $\overline{2}$

(Director)

Date: 10 June 2005

Print name: Dr Allan Shell

Sign here:

⁺ See chapter 19 for defined terms.

Notes

• $1₁$ 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.
• $\overline{2}$ 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.
• 62 - reconciliation of cash flows arising from operating activities to $\bullet$ operating profit or loss
• $9.2$ - itemised disclosure relating to acquisitions $\bullet$
• 9.4 - itemised disclosure relating to disposals
• $12.1(a)$ policy for classification of cash items
• $12.3$ - disclosure of restrictions on use of cash
• $13.1$ - comparative information $\bullet$
• Accounting Standards. ASX will accept, for example, the use of International Accounting $3.$ 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.

⁺ See chapter 19 for defined terms.