RAIDEN RESOURCES LIMITED — Interim / Quarterly Report 2005

Mar 13, 2005

Notes for the Appendix 4C Monthly Report to 28 February 2005

MEDICAL MONITORS LIMITED (the "Company")

This note to the Appendix 4C MonthlyReport to 28 February, 2005, follows on from the recently updated budget projection given to the ASX, dated 4 February 2005.

The current spend, when averaged over the quarter, is running close to budget. The funds received for the Private Placement completed by 28 February (as approved at the Annual General Meeting, 29 November 2004), were in the budgeted range. However, a small number of 'one- off' payments, such as Audit fees and UK marketing expenses, were included in the February payments – item (e).

As previously stated, the Private Placement provides additional funds for the Company's international expansion and for inventory manufacture, particularly for the USA cardiac monitoring program now in progress.

Importantly, with the budgeted grant monies, the sales revenue expected by the end of the March quarter and the increasing sales revenue and royalty stream anticipated over the coming months, the Directors believe that there is a sound financial base for the Company to continue with its current programs in Australia and overseas. The Directors believe that sufficient funds. and other financial arrangements, are in place to provide for the payment of accounts as and when they fall due.

The Directors are confident of the continuing success for the Company's products and services in Australia and internationally, and will keep the market informed of any new developments.

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 www.medmon.com.au

$Rule 4.7B$

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 in current Quarter 28 FEBRUARY 2005

Consolidated statement of cash flows

Cash flows related to operating activities		Current Month$A'000.	Year to date$\binom{8}{2}$ months)SA'000
1.1	Receipts from customers		389
1.2	Payments for(a) staff costs(b) advertising and marketing	(44)(43)	(437)(307)
	(c) research and development(d) leased assets(e) other working capital	(9)(323)	(257)(695)
1.3	Dividends received
1.4	Interest and other items of a similar naturereceived		3
1.5	Interest and other costs of finance paid	(2)	(40)
1.6	Income taxes paid
1.7	Other (Govt Grants)		297
	Net operating cash flows	(413)	(1,047)

+ See chapter 19 for defined terms.

		Current Month$A'000	Year to date$\binom{8}{2}$ months)$A'000
1.8	Net operating cash flows (carried forward)	(413)	(1, 047)
1.9	Cash flows related to investing activitiesPayment for acquisition of:
	(a) businesses (item 5)(b) equity investments(c) intellectual property		(135)
	(d) physical non-current assets
	(e) other non-currentassets		(65)
1.10	Proceeds from disposal of:
	(a) businesses (item $5$ )(b)equity investments(c) intellectual property
	(d) physical non-current assets		63
	(e) other non-currentassets		9
1.11	Loans to other entities	(24)	150(89)
1.121.13	Loans repaid by other entitiesOther (provide details if material)
	Net investing cash flows	(24)	(67)
1.14	Total operating and investing cash flows	(437)	(1,114)
	Cash flows related to financing activities
1.15	Proceeds from issues of shares, options, etc.Proceeds from sale of forfeited shares	600	1,135
1.161.17	Proceeds from borrowings		403
1.18	Repayment of borrowings		(413)
1.19	Dividends paid
1.20	Other (Security Deposit)
	Net financing cash flows	600	1,125
	Net increase (decrease) in cash held	163	$\mathbf{1}$
1.211.22	Cash at beginning of quarter/year to dateExchange rate adjustments to item 1.20	190	342
1.23	Cash at end of quarter	353	353

+ 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	78
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

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

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	1000	Nil

+ See chapter 19 for defined terms.

Reconciliation of cash

Reconciliation of eash at the end of the quarter (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.		Current Month$A'000	Previous quarter$A'000
4.1	Cash on hand and at bank	353	190
4.2	Deposits at call
4.3	Bank overdraft.
4.4	Other (provide details)
	Total: cash at end of quarter (item 1.22)	353	190

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 incorporationor registration
5.3	Consideration foracquisition or disposal
54	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. $\mathbf{2}$

Sign here:

Date: 14 March 2005

Print name:

Dr Allan Shell (Director)

+ See chapter 19 for defined terms.

Notes

• $\mathbf{1}$ 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.
• $\overline{2}$ . 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.
  • 6.2 - reconciliation of cash flows arising from operating activities to $\bullet$ operating profit or loss
  • $9.2$ - itemised disclosure relating to acquisitions
  • 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
  • comparative information $13.1$ $\bullet$
• $\overline{3}$ . 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.

+ See chapter 19 for defined terms.