ZIMI LIMITED — Interim / Quarterly Report 2007

Oct 30, 2007

ACN 113 326 524

==> picture [459 x 46] intentionally omitted <==

31 October 2007

Company Announcements Office Australian Securities Exchange Limited 20 Bridge Street Sydney NSW 2000

APPENDIX 4C – QUARTERLY REPORT ENDING 30 SEPTEMBER 2007

WIND HYDROGEN LIMITED (“the Company”)

The Company advises its consolidated net cash inflow for the quarter was $9,877,178. The net cash inflow was primarily due to the capital raised through the initial public offering of the Company’s securities.

The Company’s actual inflows and outflows in the quarter, as reported in the Appendix 4C, are in line with the Company’s anticipated inflows and outflows for the period.

The Company continues to meet its business objectives as set out in the prospectus.

By order of the Board

==> picture [114 x 47] intentionally omitted <==

Warwick Pearce Company Secretary

Suite 14, Level 12, 95 Pitt Street Sydney NSW Australia 2000 T : (61 2) 8249 8157 F : (61 2) 8249 8101 E : info@wind-hydrogen.com W : www.wind-hydrogen.com

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, 24/10/2005.

Name of entity

WIND HYDROGEN LIMITED

ABN 25 113 326 524	Quarter ended (“current quarter”)
25 113 326 524	30 September 2007

Consolidated statement of cash flows

Consolidated statement of cash flows
Cash flows related to operating activities 1.1 Receipts from customers 1.2 Payments for (a) staff costs (b) advertising and marketing (c) research and development (d) leased assets (e) other working capital 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net operating cash flows	Current quarter $A	Year to date (3 months) $A
	- (323,880) - - (499) (915,551) - 20,405 - - -	- (323,880) - - (499) (915,551) - 20,405 - - -
	(1,219,525)	(1,219,525)

• See chapter 19 for defined terms.

24/10/2005

Appendix 4C Page 1

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

	Current quarter $A	Year to date (3 months) $A
1.8 Net operating cash flows (carried forward)	(1,219,525)	(1,219,525)
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 (c) intellectual property (d) physical non-current assets (e) other non-current assets 1.11 Loans to other entities 1.12 Loans repaid by other entities 1.13 Other (provide details if material) Net investing cash flows 1.14 Total operating and investing cash flows	- - - - - - - - - - - - -	- - - - - - - - - - - - -
	-	-
	(1,219,525)	(1,219,525)
Cash flows related to financing activities 1.15 Proceeds from issues of shares, options, etc. 1.16 Proceeds from sale of forfeited shares 1.17 Proceeds from borrowings 1.18 Repayment of borrowings 1.19 Dividends paid 1.20 Other –share issue costs in the quarter Net financing cash flows	12,005,203 - - - - (908,500)	12,005,203 - - - - (908,500)
	11,096,703	11,096,703
Net increase (decrease) in cash held 1.21 Cash at beginning of quarter/year to date 1.22 Exchange rate adjustments to item 1.20 1.23 Cash at end of quarter	9,877,178 900,591 -	9,877,178 900,591 -
	10,777,769	10,777,769

• See chapter 19 for defined terms.

24/10/2005

Appendix 4C Page 2

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

1.24 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	Current quarter $A
	197,481
	-

• 1.26 Explanation necessary for an understanding of the transactions

Payments to directors of the entity and associates of the directors of the entity include directors’ fees, directors’ expense reimbursements and reasonable remuneration for consultancy services provided by a related entity of certain of the 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

The issue of 3,010,715 fully paid ordinary shares at a fair value of $A 602,143 in settlement of an outstanding liability as at 30 June 2007.

• 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

N/A

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	Amount available $A	Amount used $A
	-	-
	-	-

• See chapter 19 for defined terms.

24/10/2005

Appendix 4C Page 3

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

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A	Previous quarter $A
4.1 Cash on hand and at bank 4.2 Deposits at call 4.3 Bank overdraft 4.4 Other (provide details)	172,768	900,591
	10,605,001	-
	-	-
	-	-
Total: cash at end ofquarter(item 1.23)	10,777,769	900,591

Acquisitions and disposals of business entities

5.1 Name of entity 5.2 Place of incorporation or registration 5.3 Consideration for acquisition or disposal 5.4 Total net assets 5.5 Nature of business	Acquisitions (Item 1.9(a))	Disposals (Item 1.10(a))
	-	-
	-	-
	-	-
	-	-
	-	-

Compliance statement

• 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.

• 2 This statement does ~~/does not*~~ give a true and fair view of the matters disclosed.

Sign here: ............................................................ Date: ..31.October.2007............. Company secretary Print name: ...Warwick.James.Pearce.....................

Notes

• See chapter 19 for defined terms.

24/10/2005

Appendix 4C Page 4

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

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.

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.

3. 6.2 - reconciliation of cash flows arising from operating activities to operating profit or loss

4. • 9.2 - itemised disclosure relating to acquisitions • 9.4 - itemised disclosure relating to disposals • 12.1(a) - policy for classification of cash items • 12.3 - disclosure of restrictions on use of cash • 13.1 - comparative information

5. 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.

6. See chapter 19 for defined terms.

24/10/2005

Appendix 4C Page 5