SUREFIRE RESOURCES NL — Interim / Quarterly Report 2003

Apr 29, 2003

$Rule 4.7B$

Appendix 4C

Quarterly report for entities admitted on the basis of commitments

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

Name of entity

Genesis Biomedical Limited

ABN

48 083 274 024

Quarter ended ("current quarter")

31 March 2003

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarter$A'000	Y ear to date(9months)$A'000
1.1	Receipts from customers
1.2	(a) staff costsPayments for(b) advertising and marketing(c) research and development(d) leased assets(e) other working capital	(39)(112)	(167)(4)(868)
1.31.4	Dividends receivedInterest and other items of a similar naturereceived	3	46
1.51.61.7	Interest and other costs of finance paidIncome taxes paidOther (provide details if material)		(43)
	Net operating cash flows	(148)	(1,036)

H

+ See chapter 19 for defined terms.

Year to dateCurrent quarter$A'000$(q$ months)$A'000(148)1.8Net operating cash flows (carried forward)(1,036)Cash flows related to investing activitiesPayment for acquisition of:1.9(a) businesses (item 5)(b) equity investments(c) intellectualproperty(d) physical non-current assets(e) other non-currentassets1.10Proceeds from disposal of:3,289(a) businesses (item 5)(b) equity investments(c) intellectualproperty(d) physical non-current assets(e) other non-currentassets1.11Loans to other entities1.12Loans repaid by other entities1.13Other (provide details if material)Net investing cash flows3,289(148)2,2531.14Total operating and investing cash flowsCash flows related to financing activities1.15Proceeds from issues of shares, options, etc.175Proceeds from sale of forfeited shares1.161.17Proceeds from borrowings1.18Repayment of borrowings(1,187)1.19Dividends paid1.20Other (provide details if material)(1,012)Net financing cash flows(148)Net increase (decrease) in cash held1,241Cash at beginning of quarter/year to date1.211,449601.22Exchange rate adjustments to item 1.201,3011,301
	1.23	Cash at end of quarter

* Note: The Company also has security deposits totaling $260,000 which have not been included in the cash at the end of the quarters.

$+$ 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	Aggregate amount of payments to the parties included in item 1.2	19
1.25	Aggregate amount of loans to the parties included in item 1.11	-

1.26 Explanation necessary for an understanding of the transactions

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 availableSA'000	Amount usedSA'000
3.1	Loan facilities	-
3.2	Credit standby arrangements

+ See chapter 19 for defined terms.

Reconciliation of cash

Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.		Current quarter$A'000	Previous quarter$A'000
4.1	Cash on hand and at bank	301	449
4.2	Deposits at call	1,000	1,000
4.3	Bank overdraft
4.4	Other (provide details)
	Total: cash at end of quarter (item 1.22)	1,301	1,449

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
-5.4	Total net assets
5.5	Nature of business

Compliance statement

• $\mathbf{I}$ 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 /does not* (delete one) give a true and fair view of the matters disclosed.

Sign here:

. . . . . . . . . . . . . . . . . . . . (Company secretary)

Date: 29/4/2003

Print name: Michael Musso

Notes

• The quarterly report provides a basis for informing the market how the entity's activities have been $\mathbf{I}$ . 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.

+ See chapter 19 for defined terms.

• $6.2,$ - reconciliation of cash flows arising from operating activities to ٠ operating profit or loss
  • $9.2$ - itemised disclosure relating to acquisitions
• itemised disclosure relating to disposals 9.4
• 12.1(a) policy for classification of cash items
• $12.3$ - disclosure of restrictions on use of cash ٠
• 13.1 - comparative information ٠
• $3.$ 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.