SUREFIRE RESOURCES NL — Interim / Quarterly Report 2005

Feb 24, 2005

GENESIS BIOMEDICAL LTD $(ACN 083 274 024)$

APPENDIX 4D

HALF YEAR REPORT ENDED 31^ST DECEMBER 2004

	Consolidated
Summary Information	31-Dec-04 \$	31-Dec-03 \$	Inc/(Dec) \$	Inc/(Dec) %
Revenue from Ordinary Activities	52,522	109,731	(57, 209)	(52%)
Profit/(Loss) after Tax from Ordinary Activities	(102, 264)	(304, 095)	201,831	66%
Net Profit/(Loss) after Tax Attributable to Members	(102, 264)	(304, 095)	201,831	66%
Basic Earnings - Cents Per Share	(0.13)	(0.40)	0.27	68%
Net Tangible Assets - Cents Per Share	1.57	1.57	0.00	0%
Dividends Paid	Nil	Nil

RESULTS FOR ANNOUNCEMENT TO THE MARKET

Results

The Company has incurred an operating loss of \$102,264 for the six months to 31^st December 2004. This loss is as result of credit interest and revenue from sale of investments totalling \$52,522 offset by operating expenditure of \$154,786.

The past six months has mainly been spent furthering the monitoring and review of the Company's Cell Gen trial occurring at the Pemex hospital in Mexico and continuing to review and assess various other commercial opportunities either presented to the Board and its advisers or alternatively sought out by the individual Directors.

Cell Gen

In addition to the trial being undertaken in Mexico, the Board has recently resolved to undertake an assessment of the costs, timing, likelihood of success and steps involved in furthering the development of the Cell Gen product and associated intellectual property to a point where the Board could be in a position to confidently register a Pre-Market Notification ("PMN") or 510(k) to the US Food and Drug Administration ("FDA").

Put simply, the registration of a PMN (and subsequent substantial equivalence approval) is a method available to device manufacturers to obtain FDA approval to distribute a medical device in the United States on the basis that the applicant can demonstrate a "substantially equivalent" device is already approved for sale/distribution by the FDA.

If the results of the above assessment are deemed to be positive the Board will look to implement a Cell Gen development plan including funding, appointment of distribution/marketing and manufacturing partners, intellectual property review and ultimate PMN registration.

The Board will continue to keep shareholders informed of the progression of the initial assessment.

Other Commercial Opportunities

As has been previously disclosed to the market, in addition to the further development of its Cell Gen asset, the Company continues to review other commercial opportunities either as an investment, joint venture or an outright purchase.

The Board has adopted an investment criteria setting out as a minimum what each commercial opportunity must contain prior to any time being spent assessing these potential transactions. This template includes the requirement for the transaction to contain the appropriate management, be in a proven industry or developed to a stage where an identifiable market exists for the product/IP and contains a demonstrable forecast growth pattern that may result in an appreciation of the GBL share price.

The Board has reviewed several opportunities in the six month period to 31^st December 2004, however has yet to be in a position to finalise the terms of a transaction that it could confidently recommend to shareholders to consider and approve.

The Board has been frustrated at not being in a position to put forward a transaction to shareholders to consider, however maintains that it would prefer to complete and propose a transaction that is likely to receive the full support and approval of the wider shareholder base.

The Board is in the process of enunciating a revised strategy going forward for the review, technical assessment and funding of potential transactions and is likely to be in a position to elaborate further to the market in the near future.

Corporate

The Company raised \$300,000 (excluding costs of the issue) through the issue of 10,000,000 fully paid ordinary shares in the Company at an issue price of \$0.03 per share. These shares were issued and allotted on the 11^th November 2004.

SIGNED in accordance with a resolution of the directors

Emmanuel Correia Director

18th February 2005