SUREFIRE RESOURCES NL — Interim / Quarterly Report 2003

Jan 30, 2003

NO.018 $P.1/7$

i.

ACN 083 274 024

5th Floor, 52 Phillip St, SYDNEY 2000 Telephone 61-2-9252 7380 Facsimile 61-2-9252 8466 E-mail: morthcott@genbiomed.com

FACSIMILE TRANSMISSION

The Listing Manager TO: 1300 300 021 FAX No.: Wayne Kernaghan FROM: Appendix 4C SUBJECT: 31 January 2003 DATE: No. PAGES: 7

Please find attached the Appendix 4C for release to the market

CONFIDENTIALITY

The information contained in this facsimile message may be confidential information. If you are not the intended recipient, any use, disclosure or copying of this message is unauthorised. If you received this message in error, please destroy it immediately and notify us on the contact numbers on this letterhead.

GENESIS BIOMEDICAL LTD

15:58

31.JAN.2003

31 January 2003

The Listing Manager Australian Stock Exchange Level 6 20 Bridge Street Sydney NSW 2000

Dear Sir

Appendix 4C

Please find attached the Appendix 4C for the quarter ending 31 December 2002.

During the quarter the company settled the sale of it's 80% shareholding in Bodyworks Inc. and from the sales proceeds repaid all the convertible noteholders. The company is still entitled to further upside payments to a maximum $6.6m which are dependant on Bodyworks Inc achieving agreed EBITDA targets for the 24 month period ending 31 July 2004.

Yours faithfully Genesis Biomedical Limited

M Musso Company Secretary

Appendix 4C Quarterly report for entities admitted on the basis of commitments

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 Quarter ended ("current quarter") ABN 31 December 2002 48 083 274 024

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarter$A'000	Year to datc$(g$ months)$A'000
1.1	Receipts from customers
1.2	(a) staff costsPayments for(b) advertising and marketing(c) research and development	(67)	(128)
	(d) leased assets(e) other working capital	$^{\rm (2)}$(609)	(4)(756)
1.31.4	Dividends receivedInterest and other items of a similar naturereceived	43	43
1.51.61.7	Interest and other costs of finance paidIncome taxes paidOther (provide details if material)	(43)	(43)
	Net operating cash flows	(678)	'888)

$\overline{1}$

+ See chapter 19 for defined terms.

$\frac{1}{2}$

Appendix 4CQuarterly report for entitiesadmitted on the basis of commitments

		Current quarter$A'000	Year to date$(6$ months)SA'000
1.8	Net operating cash flows (carried forward)	(678)	(888)
	Cash flows related to investing activities
1.9	Payment for acquisition of:(a) businesses (item 5)
	(b) equity investments
	(c) intellectual
	property
	(d) physical non-
	current assets
	(e) other non-current
	assets
1.10	Proceeds from disposal of:(a) businesses (item 5)
	(b) equity investments	3289	3,289
	(c) intellectual
	property
	(d) physical non-
	current assets
	(e) other non-currentassets
1.11	Loans to other entities
1.12	Loans repaid by other entities
1.13	Other (provide details if material)
		3.289	3,289
	Net investing cash flows
1,14	Total operating and investing cash flows	2,611	2,401
	Cash flows related to financing activities
1.15	Proceeds from issues of shares, options, etc.		175
1.16	Proceeds from sale of forfeited shares
1.17	Proceeds from borrowings		(1, 187)
1.18	Repayment of borrowings	(1, 187)
1.19	Dividends paidOther (provide details if material)
1.20		(1, 187)	(1,012)
	Net financing cash flows
	Net increase (decrease) in cash held	1,424	1,389
1.21	Cash at beginning of quarter/year to date	25	60.
1.22	Exchange rate adjustments to item 1.20
		1.449	1.449
1.23	Cash at end of quarter

$\frac{1}{4}$

+ See chapter 19 for defined terms.

31.JAN.2003 15:58

ŧ

$\overline{1}$

Appendix 4C Quarterly report for entities admitted on the basis of commitments

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	43
1.25	Aggregate amount of loans to the parties included in item 1.11
1 2 6	Explanation necessary for an understanding of the transactions

The company settled the sale of its 80% shareholding in Bodyworks Inc during the quarter - see the announcement on 12/11/02.

Non-cash financing and investing activities

• Details of financing and investing transactions which have had a material effect on consolidated $2.1$ assets and liabilities but did not involve cash flows
• Details of outlays made by other entities to establish or increase their share in businesses in which $2.2$ 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 usedSA 000
-3.1	Loan facilities		-
3.2	Credit standby arrangements

$+$ See chapter 19 for defined terms.

Appendix 4C Quarterly report for entities admitted on the basis of commitments

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	449	25
42	Deposits at call	i.000
43	Bank overdraft
44	Other (provide details)
	Total: cash at end of quarter (item 1.22)	1449	25

Acquisitions and disposals of business entities

		Acquisitions(Item $1.9(a)$ )	Disposals(Item $1.10(a)$ )
5.I	Name of entity		Bodyworks Inc - 80% shareholding
5.2	Place of incorporationor registration		Linited States
5.3	Consideration foracquisition or disposal		potentialwithtogetherA53.2mupside payments up to A$6.6m basedon the performance of the companyto 31/7 2004.
5.4	Total net assets		A$4.9 m
5.5	Nature of business		developerandbraceOrthopaedicmanufacturer.

Compliance statement

• This statement has been prepared under accounting policies which comply with accounting standards as $\mathbf{1}$ 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 /does not* (delete one) give a true and fair view of the matters disclosed. $\overline{2}$

(Company secretary)

Sign here:

Date: 31/1/2003

Print name:

Michael Musso

Notes

The quarterly report provides a basis for informing the market how the entity's activities have been $\mathbf{1}$ . 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.

30/9/2001

+ See chapter 19 for defined terms.

٠

Ť

Appendix 4C Quarterly report for entities admitted on the basis of commitments

• The definitions in, and provisions of, AASB 1026: Statement of Cash Flows apply to this report except $21$ for the paragraphs of the Standard set out below.
  • reconciliation of cash flows arising from operating activities to $6.2$ operating profit or loss
  • itemised disclosure relating to acquisitions $9.2$ ó
  • itemised disclosure relating to disposals $9.4$ ×
  • $12.1(a)$ policy for classification of cash items $\bullet$
  • disclosure of restrictions on use of cash $12.3$ $\overline{a}$
  • comparative information $13.1$ $\bullet$
• Accounting Standards. ASX will accept, for example, the use of International Accounting Standards $3.$ for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

J.

+ See chapter 19 for defined terms.