The TSX Venture Exchange has accepted for filing the company's proposal to issue 7.2 million shares at a deemed price of five cents per share to settle outstanding debts totalling $360,000 owed to employees, senior officers, directors and consultants of the company.

Number of creditors:  16 creditors

Insiders:  M. Adel Zaghloul, $25,000, 500,000 shares at five cents; Ashraf Zaghloul, $100,000, two million shares at five cents; Magda Zaghloul, $3,000, 60,000 shares at five cents; Jennifer Zaghloul, $3,000, 60,000 shares at five cents; Emann Zaghloul, $3,000, 60,000 shares at five cents; Adam Zaghloul, $3,000, 60,000 shares at five cents; Yousef Zaghloul, $3,000, 60,000 shares at five cents; Suhaila Mizra Fathullah, $3,000, 60,000 shares at five cents; Kristine Lewis, $100,000, two million shares at five cents; Nicholas Hamilton-Piercy, $7,500, 150,000 shares at five cents; Said Ramadan, $5,000, 100,000 shares at five cents

Warrants:  none

The company shall issue a news release when the shares are issued and the debt extinguished.