RAIDEN RESOURCES LIMITED — Interim / Quarterly Report 2005

Jan 30, 2005

$Rule 4.7B$

Appendix 4C

Quarterlyreport 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

Quarter ended ("current quarter") 31 DECEMBER 2004

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarter SA'000	Year to date $\binom{6}{10}$ months) \$A'000
1.1	Receipts from customers	34	372
1.2	Payments for (a) staff costs (b) advertising and marketing (c) research and development (d) leased assets (e) other working capital	(223) (78) (115) (161)	(351) (225) (238) (317)
1.3	Dividendsreceived
1.4	Interest and other items of a similar nature received		$\overline{2}$
1.5	Interest and other costs of finance paid	(10)	(36)
1.6	Income taxes paid
1.7	Other (Govt Grants)	281	281
		(272)	(512)
	Net operating cash flows

⁺ See chapter 19 for defined terms.

		Current quarter \$A'000	Year to date $\binom{6}{16}$ months)
1.8	Net operating cash flows (carried forward)	(272)	\$A'000 (512)
	Cash flows related to investing activities
1.9	Payment for acquisition of: (a) businesses (item 5)
	(b) equityinvestments		(135)
	(c) intellectual property (d) physical non-
	currentassets (e) other non-current	(65)	(65)
1.10	assets Proceeds from disposal of: (a) businesses
	(item 5)
	(b)equity investments
	(c) intellectualproperty (d) physical non-		63
	current assets (e) other non-current		9
	assets		150
1.11 1.12	Loans to other entities Loans repaid by o therentities
1.13	Other (provide details if material)
	Net investing eash flows	(65)	22
1.14	Total operating and investing cash flows	(337)	(490)
	Cash flows related to financing activities
1.15	Proceeds from issues of shares, options, etc.	385	385
1.16 1.17	Proceeds from sale of forfeited shares Proceeds from borrowings	169	403
1.18	Repayment of borrowings	(46)	(413)
1.19	Dividendspaid
1.20	Other (Security Deposit)
	Net financing cash flows	508	375
	Net increase (decrease) in cash held	171	(115)
121 1.22	Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20	56	342
1.23	Cash at end of marter	227	227

⁺ 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 quarter \$A'000 1.24 63 Aggregate amount of payments to the parties included in item 1.2 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).

-3.1 Loan facilities 3.2 Credit standby arrangements		Amountavailable \$A'000	Amountused \$A'000

⁺ 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 eash flows) to the related items in the accounts is as follows.		Current quarter \$A'000	Previous quarter \$A'000
4.1	Cash on hand and at bank	227	56
4.2	Deposits at call
4.3	Bank overdraft
4.4	Other (provide details)
	Total: cash at end of quarter (item 1.22)	227	56

Acquisitions and disposals of business entities

		Acquisitions (Item 1.9(a))	Disposals (Item I.10(a))
5.1	Name of entity
5.2	Place of incorporation orregistration
5.3	Consideration for acquisition or disposal
5.4	Total net assets
5.5	Nature of business

Compliancestatement

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

82.

Sign here:

Date: 31 January 2005

Print name:

Dr Allan Shell (Director)

⁺ See chapter 19 for defined terms.

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.
• $\overline{2}$ . 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 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 $\bullet$
• $12.3$ - disclosure of restrictions on use of cash $\bullet$
  • $13.1$ - comparative information
• $\overline{3}$ . 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.

Notes for the Appendix4C Quarterly Report to 31 December 2004

MEDICAL MONITORS LIMITED (the "Company")

This note to the Appendix 4C Quarterly Report to 31 December 2004, is dealt in conjunction with the budget projection given to the ASX, dated 7 October 2004.

During the quarter, the Company received government monies for eligible R&D expenses of \$281,000 – this was ahead of the budgeted March quarter payment. Sales revenue received in Australia was as budgeted.

However, it should be noted that other items in the budget projection, namely the Technology Support fees, as part of the new Primedical International agreement, and the anticipated sales revenue for devices exported to the USA, have now been delayed by one quarter. The Company expects these monies to be paid in the March quarter, as sales in the USA are progressing well (ASX notice of 14 December, 2004).

As a Subsequent Event, a private placement of \$500,000 for MDM shares has been made (ASX notice of 17 January, 2005) The private placement was approved at the Annual General Meeting (AGM) of shareholders held on 29^th November, 2004.

Shareholder approval was also granted at the AGM to reduce the direct cash burden to the Company (ASX notice of 23 December 2004) by way of share equity in exchange for past directors' fees and the repayment of a loan, as outlined in the Notice of Meeting documentation of October, 2004.

Importantly, w ith the budgeted export marketing grant monies, the sales revenue now expected in 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 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