Replies to post #36 on Manaris (AVNY)

[walterc]

Hereunder some answers to some questions which I raised some time ago. The answer on the possible share manipulation is not yet adressed.


Hi Walter

I have received answers to your questions. Please see below.

I am away travelling and will check if there were any others outstanding when I get back. I just thought I would get this too you as soon as I can.

Best
David

1) What is the breakdown of the major shareholders of Manaris? i.e the top 5 holders.



The only major shareholder is Imperium Partners.



2) "The Company has incurred significant losses since inception and has relied on non-operational sources of financing to fund operations, and, as at March 31, 2007, had not respected a certain loan covenant."



This was referring to two ratios with respect to Avensys’ bank line of credit, which as of June 30, 2007, as a result of continued good results, are now being met and this will be deleted from the June 30, 2007 10K.



3) What are the particular products that are driving the bulk of Avensys' revenue?



See attached main product listing.



4) "the persons who shall be eligible to receive Grants shall be employees, consultants and advisers who provide services to the Company in connection with, among other things, the Company’s obligations as a publicly-held reporting company. The term consultant shall mean any person who is engaged by the Company to render services and is compensated for such services." How much of the outstanding shares is attributable to employee options and how much is a result of grants to service providers?



It would be very time consuming to work out the amount of outstanding shares attributable to employee options and grants to service providers. What we can tell you is that it would likely be a small percentage. In addition, in 2007 only one service provider received stock options.