RAIDEN RESOURCES LIMITED — Interim / Quarterly Report 2007

Feb 27, 2007

MEDICAL MONITORS LIMITED

ABN: 68 009 161 522 Appendix 4(d) and Interim Financial Report For The Half Year Ended 31 December 2006

THIS INTERIM FINANCIAL REPORT IS TO BE READ IN CONJUNCTION WITH THE COMPANY'S ANNUAL REPORT FOR THE PERIOD ENDED 30 JUNE 2006

MEDICAL MONITORS LIMITED INTERIM FINANCIAL REPORT 31 DECEMBER 2006

Contents

Company Secretary:

Results for Announcements to the Market		1
Directors' Report		$\overline{2}$
Auditor's Independence Declaration		З
Independent Review Report		4
Directors' Declaration		5
Income Statement		6
Balance Sheet		7
Statement of Changes in Equity		8
Cash Flow Statement		9
Notes to and forming part of the Financial Statements		10
Company Particulars
Directors:	Dr Allan Shell (Chairman & Managing Director)Mr Neville Buch (resigned 23/02/07)Mr John Genner (resigned 23/02/07)Mr Boris PatkinMr Harry Platt (resigned 23/02/07)Mr Stephen Grimson (appointed 11/12/06)

Mr Richard Hyman

NEWCASTLE NSW 2300

Registered Office: Suite 407 Office Tower Westfield Eastgardens 152 Bunnerong Road EASTGARDENS NSW 2036 Administration Office: Suite 407 Office Tower Westfield Eastgardens 152 Bunnerong Road EASTGARDENS NSW 2036 Share Registry: Computershare Investor Services Pty Ltd Level 2, 45 St Georges Terrace PERTH WA 6000 Auditors: Sneddon McKeown Level 2, 175 Scott Street

Stock Exchange Listing: Medical Monitors Limited shares are quoted on the Australian Stock Exchange

MEDICAL MONITORS LIMITED INTERIM FINANCIAL REPORT 31 DECEMBER 2006

RESULTS FOR ANNOUNCEMENT TO THE MARKET FOR THE HALF YEAR ENDED 31 DECEMBER 2006

				$A
Revenue from ordinary activities	down	60%	-10	457.300
Loss from ordinary activities after tax attributable to members	same	0%	İΟ	(943.326)
Loss from extraordinary items after tax attributable to members				NILI
Net Loss for the period attributable to members	same	0%	10	(943.326)

Dividends (distributions)	Amount perSecurity	Franked Amountper Security
Interim dividend	NIL.	NIL
Previous corresponding period	NIL.	NIL
Record date for determining entitlements to the dividend		N/A

Brief explanation of any of the figures reported above and short details of any bonus or cash issue or other items of importance not previously released to the market:

The consolidated entity had a decrease in the overall revenue (to $457,300) due to a decreased in the sale of medical monitoring products in the six months to 31 December 2006.

Despite of the decrease in revenues, the operating and overall result did change due to the efficient overall general cost reductions by the directors.

The company established two new entities that acquired income producing resort villages: Shell Villages and Resorts BRT Pty Ltd - "Brisbane River Terraces" in Queensland,

Shell Villages and Resorts Cooroy Ply Ltd - "The Ashmond Villas" in Cooroy, Queensland.

MEDICAL MONITORS LIMITED ABN: 68 009 161 522 DIRECTORS' REPORT

Your directors submit the financial report of the economic entity for the half-year ended 31 December 2006.

Directors:

The names of directors in office at any time during or since the end of the half-year:

• Dr Allan Shell (Chairman & Managing Director)
• Mr Neville Buch (resigned 23/02/07)
• Mr John Genner (resigned 23/02/07)
• Mr Boris Patkin
• Mr Harry Platt (resigned 23/02/07)

Mr Stephen Grimson (appointed 11/12/06)

Review of Operations

Over the past six months the company has achieved the following milestones:

• The company acquired two income producing resort villages - Brisbane River Terraces in Queensland and The Ashmond Villas in Coorov, Queensland,

• The Company has recently completed $3.5 million conversion of its debt to equity to achieve desired overhead cost reduction.

• The Company successfully sold its intellectual property rights to operate medical monitors business to PMI for $5 million.

Auditor's Independence Declaration

The lead auditor's independence declaration for the half-year ended 31 December 2006 has been received and can be found on page 3 of the financial report.

This report is made in accordance with a resolution of directors.

Director

Dr Allan Shell (Chairman & Managing Director)

Dated this 28th day of February 2007

MEDICAL MONITORS LIMITED ABN 68 009 161 522 AND CONTROLLED ENTITIES

AUDITOR'S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001

TO THE DIRECTORS OF MEDICAL MONITORS LIMITED

I declare that, to the best of my knowledge and belief, during the half-year ended 31 December 2006 there have been:

• no contraventions of the auditor independence requirements as set out in the Corporations Act $(i)$ 2001 in relation to the review; and
• no contraventions of any applicable code of professional conduct in relation to the review. $(ii)$

SNEDDON McKEOWN

MEGAN MAYBURY Partner

28 February 2007 175 Scott Street, Newcastle NSW 2300

Chartered Accountants 2nd fleer, hunter mall chambers 175 scott street newcastle asw 2300. phone: 02 4987 7222 fax: 02 4929 6759

Contered Accountants Liability limited by a scheme oppreved under-Professional Standards Legislation.

INDEPENDENT REVIEW REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2006

TO THE MEMBERS OF MEDICAL MONITORS LIMITED

SCOPE

We have reviewed the financial report of Medical Monitors Limited for the half-year ended 31 December 2006 as set out in the Income Statement, Balance Sheet, Cash Flow Statement, Statement of Changes in Equity, Notes to the Financial Statements and Directors' Declaration. The financial report includes the consolidated financial statements of the consolidated entity comprising the company and the entities it controlled at the end of the half-year or from time to time during the half-year. The company's directors are responsible for the financial report.

We have performed an independent review of the financial report in order to state whether, on the basis of the procedures described, anything has come to our attention that would indicate that the financial report is not presented fairly in accordance with Accounting Standard AASB 134: Interim Financial Reporting and other mandatory professional reporting requirements in Australia and statutory requirements, so as to present a view which is consistent with our understanding of the company's financial position, and performance as represented by the results of its operations and its cash flows, and in order for the company to lodge the financial report with the Australian Securities & investments Commission/Australian Stock Exchange Limited.

Our review has been conducted in accordance with Australian Auditing Standards applicable to review engagements. A review is limited primarily to inquiries of the company's personnel and analytical procedures applied to the financial data. These procedures do not provide all the evidence that would be required in an audit, thus the level of assurance provided is less than given in an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.

INDEPENDENCE

In conducting our review, we followed applicable independence requirements of Australian professional ethical pronouncements and the Corporations Act.2001.

In accordance with ASIC Class Order 05/83, we declare to the best of our knowledge and belief that the auditor's declaration set out on page 3 of the financial report has not changed at the date of providing our review opinion.

STATEMENT

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the halfvear financial report of Medical Monitors Limited is not in accordance with:

(a) the Corporations Act 2001, including;

• giving a true and fair view of the company's financial position as at 31 December 2006 and of its $\left(\mathbf{i}\right)$ performance for the half-year ended on that date; and
• complying with Accounting Standard AASB 134: Interim Financial Reporting and the Corporations $(ii)$ Regulations 2001; and

(b) other mandatory professional reporting requirements in Australia.

SNEDDON McKEOWN

MEGAN MAYBURY Partner

28 February 2007 175 Scott Street, Newcastle NSW 2300

Chartered Accountants

2nd floor, hunter mail chambers 175 scott street newcastle nsw 2300. phone: 02 4907 7222 fex: 02 4929 6759

Churtered Accountants Liability limited by a scheme approved under Professional Stondards Legislation.

SNEDDONM CKEOWN

MEDICAL MONITORS LIMITED ABN: 68 009 161 522 DIRECTORS' DECLARATION

The directors of the company declare that:

• The financial statements and notes, as set out on pages 6 to 12, are in accordance with the Corporations $\ddagger$ . Act 2001 and:
  • (a) comply with Accounting Standard 134: Interim Financial Reporting and the Corporations Regulations $2001$ ; and
  • (b) give a true and fair view of the financial position as at 31 December 2006 and of the performance for the half-year ended on that date.
• $\overline{2}$ . In the directors' opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

Director

Dr Allan Shell (Chairman & Managing Director)

Dated this 28th day of February 2007

MEDICAL MONITORS LIMITED ABN: 68 009 161 522 INCOME STATEMENT FOR THE HALF YEAR ENDED 31 DECEMBER 2006

	Economic Entity
	Note	31-Dec-06	31-Dec-05
		$	$
Revenue		266,346	1.138,060
Profit on sale of intellectual property		190,954
Finance costs		(376,080)	(61,073)
Cost of goods sold		(4,787)	(420, 993)
Administration expenses		(80, 817)	(88, 255)
Consulting and professional services fees		(615, 721)	(464,300)
Depreciation and amortisation		(24, 867)	(377,072)
Foreign exchange gain/(loss)		(40, 734)	79,065
International marketing expenses			(56, 774)
Write-down in value of inventory			(137,060)
Staff expenses		(208,060)	(261, 334)
Occupancy expenses		(39,733)	(107,005)
Other expenses		(275,065)	(183, 162)
Loss from ordinary activities before income tax		(1,208,564)	(939,903)
Income tax expense		265,238
Net loss attributable to members of Medical Monitors
Limited and controlled entity		(943,326)	(939,903)
Overall Operations
Basic earnings per share (cents per share)	3	(1.4)	(1.1)

Diluted earnings per share is not disclosed as it is notmaterially different from the basic earnings per share

MEDICAL MONITORS LIMITED ABN: 68 009 161 522 BALANCE SHEET AS AT 31 DECEMBER 2006

	Note	$31 - Dec-06$$	Economic Entity30-Jun-06$
ASSETSCURRENT ASSETS
Cash and cash equivalents		450,862	78,399
Trade and other receivables		6,544,699	1,209,129
Inventories		19.246	19,246
Other current assets		9,122	26,376
TOTAL CURRENT ASSETS		7,023,929	1,333,150
NON-CURRENT ASSETS
Financial assets		2,830	2,830
Property, plant and equipment		10,967,258	375,507
Intangible assets		300,000	5,204,587
TOTAL NON-CURRENT ASSETS		11,270,088	5,582,924
TOTAL ASSETS		18.294,017	6.916,074
CURRENT LIABILITIES
Trade and other payables		1,938,538	1,312,871
Short-term borrowings		2.054,003	482,227
Short-term provisions		72,446	62,598
TOTAL CURRENT LIABILITIES		4,064,987	1,857,696
NON-CURRENT LIABILITIES
Long-term borrowings		9,526,153	2,038,925
TOTAL NON-CURRENT LIABILITIES		9,526,153	2.038,925
TOTAL LIABILITIES		13,591,140	3,896,621
NET ASSETS		4.702,877	3,019,453
EQUITY
Issued capital		38,373,383	35.746,633
Reserves		493,152	493,152
Retained earnings		(34, 163, 658)	(33, 220, 332)
Parent interest		4,702,877	3.019.453
TOTAL EQUITY		4,702,877	3,019,453

MEDICAL MONITORS LIMITED ABN: 68 009 161 522 STATEMENT OF CHANGES IN EQUITY FOR THE HALF YEAR ENDED 31 DECEMBER 2006

	Note	ShareCapital	RetainedEarnings	GeneralReserves	Total
Economic Entity		$	$.	S	$.
Balance at 1 July 2005		34,761,131	(31, 404, 221)	493,152	3,850,062
Contributions of equity net of transaction costs		985,502
Profit attributable to members of parent entity		$\blacksquare$	(1,816,111)		(1,816,111)
Option reserve on recognition of bonus element of options
Sub-total		35.746,633	(33,220,332)	493.152	3,019,453
Balance at 30 June 2006		35.746,633	(33, 220, 332)	493,152	3,019,453
Adjustment on prospective application of AASB 139
Issue of shares		2.626,750			2,626,750
Profit attributable to members of parent entity			(943,326)		(943, 326)
Transfers from retained earnings
Sub-total		38.373,383	(34, 163, 658)	493.152	4,702,877
Balance at 31 December 2006		38.373.383	(34.163.658)	493.152	4.702.877

MEDICAL MONITORS LIMITED ABN: 68 009 161 522 CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 31 DECEMBER 2006

		Economic Entity
	Note	$31 - Dec-06$	$31 - Dec-05$
		$	$
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers		340,967	614,506
Interest received		1,542	919
Payments to suppliers and employees		(1, 198, 224)	(1,340,087)
Finance costs		(129, 732)	(61,073)
Net cash provided by (used in) operating activities		(985,447)	(785, 735)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment		(8.645, 332)
Refund of security deposits			(115)
Net cash provided by (used in) investing activities		(8,645,332)	(115)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issue of shares		860,000	305,502
Proceeds from borrowings		9.143,406	305,917
Net cash provided by (used in) financing activities		10.003,406	611,419
Net increase in cash held		372.627	(174, 431)
Cash at beginning of financial year		78,399	216,432
Effect of exchange rates on cash holdings in foreign
currencies		(164)
Cash at end of financial year		450,862	42,001

MEDICAL MONITORS LIMITED ABN: 68 009 161 522 NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2006

Note 1 Statement of Significant Accounting Policies

The half-year consolidated financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standard AASB 134 Interim Financial Reporting, Urgent Issues Group Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act 2001.

The financial report covers the economic entity of Medical Monitors Limited and controlled entities. Medical Monitors Limited is a listed public company, incorporated and domiciled in Australia.

It is recommended that this financial report be read in conjunction with the annual financial report for the year ended 30 June 2006 and any public announcements made by Medical Monitors Limited and its controlled entities during the half year in accordance with continuous disclosure requirements arising under the corporations Act 2001.

The accounting policies have been consistently applied by the entities in the economic entity and are consistent with those applied in the 30 June 2006 Financial report.

The half-year report does not include full disclosures of the type normally included in an annual financial report.

Dividends Note 2

No dividends have been proposed or paid during the financial year.

Note 3 Earnings per Share

	Economic Entity
	31-Dec-06S	- 31-Dec-05$
Basic earnings per share in cents	(1.4) c	(1.1) c
(a) Weighted average number of ordinary shares outstanding during the
year used in calculating basic earnings per share:	67.944.246 59.943.840
Weighted average number of options outstanding
Weighted average number of converting preference shares on issue
Weighted average number of ordinary shares outstanding during the year
used in calculating dilutive EPS	67.944.246	59.943.840

Shares were consolidated on one to five basis on 23 January 2006. To enable comparability the comparative information for the average number of shares was reinstated on this basis.

(b) Diluted earnings per share is not disclosed as it is not materially different from the basic earnings per share.

Note 4 Net Tangible Asset Backing

Net Tangible Asset Backing per ordinary security		$(3)$ C
--------------------------------------------------	--	---------

Shares were consolidated on one to five basis on 23 January 2006. To enable comparability the comparative information for the average number of shares was reinstated on this basis.

Contingent Liabilities and Contingent Assets Note 5

There were no contingent liabilities or contingent assets at the balance date.

Note 6 Segment Reporting

	Medical products		Property Operation		Total of all segments
	31-Dec-06	$31 - Dec-05$	31-Dec-06	$31 - Dec-05$	$31 - Dec-06$	$31 - Dec-05$
	$	$	$	$	$	$
Primary Reporting - Business Segments
REVENUE
Total revenue	264.021	1.138.060	193.279		457.300	1,138,060
RESULT
Segment result	(1,013.929)	(878, 830)	181.445		(832.484)	(878, 830)
Finance Costs	(117.316)	(61,073)	(258.764)	$\overline{a}$	(376.080)	(61,073)
Profit before income tax Income tax expense	(1, 131, 245)	(939, 903)	(77, 319)	$\overline{r}$	(1,208.564)	(939, 903)
Profit after income tax	(866.007)	(939, 903)	(77,319)		(943.326)	(939, 903)

MEDICAL MONITORS LIMITED ABN: 68 009 161 522 NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2006

Note 6 Segment Reporting (Cont.)

		Medical products	Villages operation		Total of all segments
	31-Dec-06$	31-Dec-05$	31-Dec-06$	31-Dec-05$	31-Dec-06$	31-Dec-05$
ASSETS
Segment assets	7,577,446	6,047,737	10,716,571	$\tilde{\phantom{a}}$	18,294,017	6,047,737
LIABILITIES
Segment liabilities	6,851.743	3,425,036	6,739,397	$\sim$	13,591.140	3,425,036
Secondary Reporting - Geographical Segments
Segment Revenues:
Australia					457,300	382,630
United States of AmericaUnited Kingdom						755,430
					457,300	1,138,060
Segment Results:
Australia					(943,326)	(841,785)
United States of America						(9,938)
United Kingdom						(88, 188)
					(943, 326)	(939, 911)
Segment Assets:
Australia					18,290,073	5,960,616
United States of America					2,828	75,176
United Kingdom					1,11618,294,017	11,945
						6,047,737
Segment Liabilities:
Australia					13,591,140	3,421,841
United States of America						919
United Kingdom					13,591,140	2,2763,425,036
Business and Geographical Segments

Business segments

The economic entity has the following two business segments:

• Development of medical diagnostic products and services

• Operating of health and lifestile villages and resorts

Geographical segments

The economic entity's business segments are located in Australia, with the distribution division of diagnostic products also having operations in the USA and UK.

Note 7 Business Combinations

(a) Assets and liabilities acquired

Shell Villages & Resorts BRT Pty LtdThe Company established a fully owned subsiduary Shell Villages and Resort BRT Pty Ltd in August 2006which acquired Brisbane River Terraces resort in Queensland.	Cost	Fair Value$.
Land & Buildings purchased on 26 August 2006	6.635.625	6.635.625
Shell Villages & Resorts CooroyThe Component against the sense of the account actual memory Object Williams and Dannage Campus Die Die Later Campus and

The Company established a fully owned subsiduary Shell Villages and Resort Cooroy Pty Ltd in December 2006 which acquired the Ashmond Villas resort in Cooroy, Queensland.

Land & Buildings purchased on 29 November 2006

4,022,975 4,022,975

MEDICAL MONITORS LIMITED ABN: 68 009 161 522 NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2006

Note 7 Business Combinations (Cont.)

(b) Assets and liabilities disposed

Heart Monitors Pty Ltd

Sale of Intellectual property rights to PMI International in December 2006

	Sale Proceeds	5,054.972
Less:
	Carrying value	(3,850,720)
	Foreign exchange loss	40.569
	Goodwill on Consolidation	(1,053,867)
	Profit on sale of Intellectual Property	190.954

Note 8 Events occuring after reporting date

There were no subsequent events after the report date.