> l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1Courier New1Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)**_($* #,##0_);_($* (#,##0);_($* ""_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* ""_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* ""??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* ""??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)60%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0) + ) , * Ј ~~ ؈ ~~#؈ ~~"؈ ~~ ؈ ~~3"܈ ~~4"܈ ~~8#܈ ~~7#܈ ~~8"܈ ~~<#܈ ~~4#܈ ~~3#܈ ~~<"܈ ~~"؈ ~~83ffff̙̙3f3fff3f3f33333f33&4CALCULATION OF REGISTRATION FEEO,Beneficial OwnershipJThe Offering&bOur common stock is subject to &{The market valuation of our bus#The market valuation of (1)iMarket OpportunityPLAN OF OPERATIONSGPLAN OF OPERATI (1)JPLAN OF OPERATI (2)SELLING STOCKHOLDERS/SELLING STOCKHO (1)_SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)NO TITLE
NO TITLE (1)APLAN OF DISTRIBUTION1IPLAN OF DISTRIB (1)bBeneficial Owne (1)uBeneficial Owne (2)NO TITLE (2)GSummary CompensationNO TITLE (3) 4Outstanding Equity Awards}%DIRECTOR COMPENSATIONCDIRECTOR COMPEN (1)&aMARKET FOR COMMON EQUITY AND RE$L{INDEX TO FINANCIAL STATEMENTSC
Balance SheetwIncome StatementtShareholders Equity)
Cash Flows&"`Consolidated Statements of Cash&}Note 3 151 Prepaid expenses and&Note 4 151 Property plant and e%Note 4 151 Property plant (1)&Note 6 150 Accrued expenses andNote 6 150 Accrued (1)!Provision for income taxes&Deferred tax assets liabilities!Lease commitments5License agreement&8HNote 11 150 Accounting for stoc"mNote 11 150 Accounting (1)cBalance Sheet (1)&Condensed Consolidated Balance "GCondensed Consolidated (1)&4Unaudited Condensed ConsolidateUnaudited Condensed (1)&LNote 2 151 Joint Venture in Chi&bEffect of Adopting SFAS No 123R&xPrior Period Pro Forma Presenta:Assumptions
Assumptions (1)Assumptions (2)AAssumptions (3)Assumptions (4)xDelaware Law&q!Item 25 Other Expenses of Issua k6Item 27 Index to ExhibitsnmItem 27 Index to (1):Item 27 Index to (2)IIndex to ExhibitsKIndex to Exhibi (1)Index to Exhibi (2)2NO TITLE (4)GNO TITLE (5)&\ARTICLE 3 CONFIDENTIAL DISCLOSU&qARTICLE 7 REPRESENTATIONS AND WȘNO TITLE (6)%1 Definitions and Construction1 Definitions and (1)K1 Definitions and (2)m 1 Definitions and (3)6, 1 Definitions and (4)Z 1 Definitions and (5)v 1 Definitions and (6) 1 Definitions and (7) 1 Definitions and (8) 1 Definitions and (9)3 1 Definitions and (10)"
1 Definitions and (11))
1 Definitions and (12)>
1 Definitions and (13)U
1 Definitions and (14)fk
1 Definitions and (15)~
1 Definitions and (16)3
1 Definitions and (17)q
1 Definitions and (18)
1 Definitions and (19)
1 Definitions and (20)1 Definitions and (21)1 Definitions and (22))1 Definitions and (23)>1 Definitions and (24)[1 Definitions and (25)&o1 Definitions and (26)_1 Definitions and (27)ܗ1 Definitions and (28)1 Definitions and (29)*1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)$)1 Definitions and (33)iANet Syngas Contents\Net Syngas Cont (1){
Table III1Design Basis Coal)A Capacity FeeA Capacity Fee (1)? Example 1U Example 3c
Excess Quantities
Excess Quantiti (1)
2
Further CooperationI
Further Coopera (1)
l +
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??tBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }0.}$ }0}$ }a} $ }
a}$ }
}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
)!Title of Each Class of SecuritiesAmount to beOffering Price Per
Aggregate Offering
Amount ofTo be RegisteredRegistered (1)(2) Share (1)
Price
Registration Fee
.
&Common Stock, $.01 par value per share
10,000,000 shares
~
*
~
$5,536 (2)
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,~ymaU{=PF0*8X>
@
l 3'DI
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }>}$ }}$
3
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Beneficial Ownership Page
PROSPECTUS SUMMARY
~
RISK FACTORS~
"FORWARD LOOKING STATEMENTS~
:
BUSINESS
~
>
DESCRIPTION OF PROPERTY~
fPLAN OF OPERATIONS~
jSELLING STOCKHOLDERS~
rUSE OF PROCEEDS~
PLAN OF DISTRIBUTION~
( DIRECTORS AND EXECUTIVE OFFICERS~
CORPORATE GOVERNANCE~
0(SECURITY OWNERSHIP OF CERTAIN BENEFICIAL~
OWNERS AND MANAGEMENT"EXECUTIVE COMPENSATION 110~
4,INTEREST OF MANAGEMENT AND OTHERS IN CERTAIN~
TRANSACTIONS80MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER~
MATTERS#DESCRIPTION OF COMMON STOCK~
2*RELATIONSHIPS WITH ISSUER OF EXPERTS NAMED~
!IN REGISTRATION STATEMENTLEGAL PROCEEDINGS~
D%
lxl`$Vct"r)7 !"#$%&'()*+,./0125 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ~
<!4DISCLOSURE OF COMMISSION POSITION ON INDEMNIFICATION!!~
!!%"OF SECURITIES ACT LIABILITIES#
LEGAL MATTERS##~
##$EXPERTS$$~
$$%%INDEX TO FINANCIAL STATEMENTS%%%F1%%& Specimen Stock Certificate1') Amended and Restated License Agreement2(* Contract for Synthesis Gas Purchase and
)Sales4*, Amended and Restated Employment Agreement+ Gregory Bruce Golden/,' Employment Agreement  Carol Pearson Consent of KPMG LLP./$0____________________________11)Created by Morningstar Document Research.02(http://documentresearch.morningstar.com/*kh#jzi1z=PF0*8X>
@b221100,,++**))((''&&
l '`b
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial Ownership!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }I;}$ }:
'
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007The Offering Common stock offered:
By usNone
)! By the selling stockholders10,000,000 shares91 Common stock outstanding after the offering29,187,615 shares (1) Pink Sheets symbolSYMX Use of proceeds4,We will not receive any of the proceeds from3+the sale or other disposition of the shares%covered hereby, or interests therein,%by the selling stockholders. See ?Use
of Proceeds.? Risk Factors2*See ?Risk Factors? beginning on page 2 and5other information included in this prospectus80for a discussion of factors you should carefullyD+lthD/#}YA~Z !"#$%& 4 ,consider before deciding to invest in shares!!!of our common stock."#$$____________________________1%)Created by Morningstar Document Research.0&(http://documentresearch.morningstar.com/xxl`8=PF0*8X>
@&&%%$$
l #Ozd{
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }$}$ }7
#
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007kcOur common stock is subject to the #147;penny stock#148; rules of the SEC and the trading market in ?2*that a broker or dealer approve a person?s 1 )account for transactions in penny stocks;
and ?6.the broker or dealer receive from the investor
/
'a written agreement to the transaction,/'setting forth the identity and quantity+#of the penny stock to be purchased.2*In order to approve a person?s account for0(transactions in penny stocks, the brokeror dealer must: ?3+obtain financial information and investment0(experience objectives of the person; and ?0(make a reasonable determination that the1)transactions in penny stocks are suitable5for that person and the person has sufficient%knowledge and experience in financial/'matters to be capable of evaluating the.&risks of transactions in penny stocks.D l5)]*hXYC: !"$ ____________________________1!)Created by Morningstar Document Research.0"(http://documentresearch.morningstar.com/
(=PF0*8X>
@""!!
l "lE
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to The market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }$}$ }$4
"
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007jbThe market valuation of our business may fluctuate due to factors beyond our control and the value ?1)changes in securities analysts? estimates . &of our financial performance, although
0
(there are currently no analysts covering
our stock;
?
/
'fluctuations in stock market prices and.&volumes, particularly among securitiesof energy companies; ?/'changes in market valuations of similar
companies; ?.&announcements by us or our competitors3+of significant contracts, new technologies,/'acquisitions, commercial relationships,.&joint ventures or capital commitments; ?%variations in our quarterly operatingresults; ?3+fluctuations in oil and natural gas prices;$____________________________Dl6*b
ln4(vg/# !1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X>
@!!
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busMarket OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }$}$ }8
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007jbThe market valuation of our business may fluctuate due to factors beyond our control and the value ?7/loss of a major customer or failure to complete ) !significant commercial contracts;
?2*loss of a relationship with a partner; and
?
1
)additions or departures of key personnel.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*h6*aUT=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)PLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }$}$ }6
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Market Opportunity ?2*Demand for natural gas is outpacing supply 4 ,and resulting in higher prices and potential
4
,interruptions in supply due to technological5innovations related to natural gas combustion)!(primarily for power generation).
?.&Increased attention on air quality and!greenhouse gas emissions. ?2*Higher energy price environments resulting/'from the absorption of excess petroleumcapacities. ?0(Recognition by policy makers of national.&security issues related to reliance on external energy sources.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>0znbO>7A=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }$}$ }y<
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007PLAN OF OPERATIONS ?/'Completing engineering and construction : 2of plants as well as creating modular gasification
3
+engineering blocks to speed the development( of future UGAS? based projects.
?
2
*Building relationships with multinational%industrial concerns to provide UGAS?/'solutions for their energy and chemicalfeedstock needs. ?4,Expanding our experienced global engineering.&and project execution team to complete.&the development of current projects as2*well as future projects under development. ?3+Protecting technology used and/or developed7/by the Company in the U.S. Patent and Trademark5Office as well as similar agencies throughout
the world.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/DL lznb
MAA;/t=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }$}$ }I;
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007PLAN OF OPERATIONS ? . &Approximately $12.4 million related to
1
)construction of the Plant, which includes1)a $9.1 million equity contribution by the5Company and an intercompany loan by Synthesis
9
1Investments to the Joint Venture of approximately
$3.3 million. ?/'Approximately $2.2 million of operatingcosts. ?5Approximately $800,000 of project development expenses.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:znbVMRF:B =PF0*8X>
@
l +D
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }$}$ }I;
+
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007PLAN OF OPERATIONS ?91Term of the loan is 7 years from the commencement * "date (March 22, 2007) of the loan.
?2*Interest for the first year is 7.11% to be1)adjusted annually based upon the standard
0
(rate announced each year by the People?s2*Bank of China. Interest is payable monthly'on the 20 th day of each month. ?80Principal payments of approximately $1.0 million3+are due in March and September of each year/'beginning on September 22, 2008 and endon March 21, 2014. ?+#Hai Hua is a guarantor on the loan. ?4,The Project assets are pledged as collateralon the loan. ?3+The Joint Venture agreed to covenants that,0(among other things, prohibit prepayment3+without the consent of ICBC and permit ICBC3+to be involved in the review and inspectionof the Project.D lznbG<%, {l !"#$%&'()* ! !?!/!'The loan is subject to customary events"""4",of default which, should one or more of them###2#*occur and be continuing, would permit ICBC$$$7$/to declare all amounts owing under the contract%%%*%"to be due and payable immediately.&'$(____________________________1))Created by Morningstar Document Research.0*(http://documentresearch.morningstar.com/P@5)=PF0*8X>
@**))((
l +F(.
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }6}$ }}$ }}
$ }$}$ }$}$
+
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007SELLING STOCKHOLDERS
Number of Shares
Number of
Number of Shares
Percentage ofOwned Prior toShares Being
Owned After
Shares OwnedSelling StockholderOffering(1)
Offered(1)
Offering(2)
After Offering(2)
Alfredo Aguayo (4)
~
~
?
?
Lorena Amez (4)~
>~
>
?
?Shawn Andrew (4)~
~
?
?.&ATC Trustees (Bahamas) Ltd. as trustee~
~
?
?5for trusts for the benefit of Kevin and PaoloCammarata (3)(46)Evangelina Balderas (4)~
~
?
?Ross Baldwin (4)~
M~
M
?
?Nelson Barker (4)~
v~
v
?
?Jack Barr (19)~
B~
B
?
?John D. Barr (19)~
B~
B
?
?Patrick D. Barr (19)~
~
?
?Terry D. Bast (4)~
"N~
"N
?
?
Ann Beals (4)~
>~
>
?
? Kathryn Marie Beeler (4)~
~
?
?Robert James Beeler (4)~
~
?
?Mark Blynder (4)~
"~
"
?
?Thomas G. Bongard (3)~
~
?
?Brand Equity LLC (12)~
~
?
?Dxlxl`I3Mj !"#$%&'()*! Howard ? Judy Butnick (4) ~
r ~
r
?
? !Charmian ByersJones (4)!!~
!B!!!~
!B!! !
!?!!
! !?!"Frank J. Cadwell (5)""~
""""~
""" "
"?""
" "?"#Ira Ronald Cadwell (5)##~
####~
### #
#?##
# #?#$Stephanie Cadwell (5)$$~
$$$$~
$$$ $
$?$$
$ $?$%&'$(____________________________1))Created by Morningstar Document Research.0*(http://documentresearch.morningstar.com/+E]vj^R*=PF0*8X>
@z**))((
l /T^
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }'}$ }}$ }}
$ }y}$ } }$
/
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007SELLING STOCKHOLDERS
Number of Shares Owned
Number of
Number of Shares
Percentage of and to be Owned Prior toShares Being
Owned After
Shares OwnedSelling StockholderOffering(1)
Offered(1)
Offering(2)
After Offering(2)
Gil Castillo (4)
~
.
~
.
?
?
CG Capital Corp. (16)~
~
?
?Dylan L. Clayton (4)~
~
?
?
Ira Cohen (4)~
~
?
?Martin A. Cooper (4)~
~
?
?Lorinda S. Crowley (4)~
~
?
?Robert Curran (4)~
B
~
B
?
?Marc L. Danny (4)~
1~
1
?
?Adam M. Dernbach (3)~
bg~
bg
?
? Jeremy Alan Dernbach (3)~
8~
8
?
?Timothy A. Dernbach (5)~
B~
B
?
?Gaston Dupre (4)~
B~
B
?
?James Dwyer (4)~
~
?
?Benjamin Erichsen (4)~
B~
B
?
? Nicholas Ferber (4) (13)~
"N~
"N
?
?Casey H. Ferguson (4)~
2~
2
?
?Gerry Ferguson (4)~
B~
B
?
?Lori Ficarra (4)~
~
?
?Ford Allen, Inc. (17)~
b6~
b6
?
?Dlxl`9Jg3O !"#$%&'()*+,. Eugene Gannon (4) ~
~
?
? !Clarence J. Gdowski (4)!!~
!!!!~
!!! !
!?!!
! !?! "William J. Gilliland (4)""~
">2"""~
">2"" "
"?""
" "?"(# Theodore ? Eve Golfinopoulos (3)##~
#8###~
#8## #
#?##
# #?#$Marc ? Jodi Gold (19)$$~
$B$$$~
$B$$ $
$?$$
$ $?$%Gregory B. Golden (4)%%~
%R%%%~
%%% %
~
%%%
%%%@ %%#&Alexander E. Gomez (4) (14)&&~
&B&&&~
&B&& &
&?&&
& &?&'Jeanine Goodstein (4)''~
'>'''~
'>'' '
'?''
' '?'(Robert Gordon (4)((~
((((~
((( (
(?((
( (?()*+$,____________________________1)Created by Morningstar Document Research.0.(http://documentresearch.morningstar.com/"
4JXq=PF0*8X>
@z..,,
l /5
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }y#}$ }}$ }}
$ }$}$ }$}$
/
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007SELLING STOCKHOLDERS
Number of Shares Owned
Number of
Number of Shares
Percentage of and to be Owned Prior toShares Being
Owned After
Shares OwnedSelling StockholderOffering(1)
Offered(1)
Offering(2)
After Offering(2)
Glenn Grossman (19)
~
r
~
r
?
?
Henry Grossman (19)~
~
?
?Robert P. Grossman (19)~
B~
B
?
?Eitan M. Guerrero (4)~
~
?
? James D. Hanson, Jr. (5)~
5~
5
?
?Steven Harrington (4)~
2~
2
?
?H. Ronald Hartman (4)~
~
?
?Susan Hrapsky (4)~
B~
B
?
?"Karinga Limited, Ltd. (20)~
=~
=
?
?Shay Kostiner (4)~
.~
.
?
?Sanjay Kumar (4)~
XO~
XO
?
?Isabelle Lau (4)~
~
?
?Bernice Lerner (4)~
B~
B
?
?%MD Investments Limited (3)(9)~
q~
q
?
?"Francisco Lazaro Lopez (4)~
B~
B
?
?John F. Michel, Jr. (3)~
~
?
?Rodolfo Milani (4)~
]~
]
?
?Joan Misuraca (4)~
~
?
?Enrique Neufeld (4)~
~
?
?Dlxl`97Th5 !"#$%&'()*+,. Ocean Equity, Inc. (21) ~
ڊ ~
ڊ
?
? #!Mark H. ? Valarie Pearl (4)!!~
!!!!~
!!! !
!?!!
! !?!"Anthony Palazzo (4)""~
""""~
""" "
"?""
" "?"#Randall J. Peacon (4)##~
####~
### #
#?##
# #?#$Kevin Perkins (4)$$~
$$$$~
$$$ $
$?$$
$ $?$%Thomas E. Puccio (3)%%~
%%%%~
%%% %
%?%%
% %?%&Amul Purohit (4)&&~
&&&&~
&&& &
&&&
&&&'Cal ? Dorene Remy (4)''~
''''~
''' '
'?''
' '?'(E. Michael Rizzotti (4)((~
(.(((~
(.(( (
(?((
( (?()*+$,____________________________1)Created by Morningstar Document Research.0.(http://documentresearch.morningstar.com/" *E^{=PF0*8X>
@z..,,
l 0q
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }+}$ }}U}$ }}
$ }
}U}
$ }U}$
0
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007SELLING STOCKHOLDERS
Number of Shares Owned
Number of
Number of Shares
Percentage of and to be Owned Prior toShares Being
Owned After
Shares OwnedSelling StockholderOffering(1)
Offered(1)
Offering(2)
After Offering(2)
Jennifer Rogatz (4)
~
B
~
B
?
?
Albert Rosen (4)~
2
~
2
?
?Quincy Sanchez (4)~
B~
B
?
?!Maria Isabel Schwedel (4)~
~
?
?David A. Schwedel (5)~
BE~
~
09
~
B~
ffffff? %Renee Schwedel (5)~
~
?
?Robert M. Schwedel (4)~
~
?
?Steve Schwedel (4)~
"N~
"N
?
?Dale A. Schwieger (15)~
B~
B
?
?Bart Seidler (4)~
8~
8
?
?Deena Seletsky (4)~
B~
B
?
?James W. Sides (4)~
.~
.
?
?( Silo Investments Limited (5)(10)~
m
~
m
?
?Derrel F. Slaughter (4)~
~
?
?#Soiree Miami, Inc. (4) (18)~
r~
r
?
?Chad A. Sorg (4)~
f~
f
?
?Jeffrey F. Smith (4)~
B~
B
?
?Bernard Dane Stein (4)~
~
?
?Michael G. Storey (3)~
sU~
~
6
~
? %D)lxl`95Qi/ !"#$%&'()*+,./ Adonna Thayer (4) ~
B ~
B
?
? !Michelle Tobin (4)!!~
!B!!!~
!B!! !
!?!!
! !?!"Michael Tublin (5)""~
""""~
""" "
"?""
" "?"!#John Mark Turner, Jr. (4)##~
####~
### #
#?##
# #?#,$$Union Charter Capital VII, Inc. (22)$$~
$ =$$$~
$ =$$ $
$?$$
$ $?$%Joshua Vajda (4)%%~
%%%%~
%%% %
%?%%
% %?%&Marcelo Vergara (4)&&~
&B&&&~
&B&& &
&?&&
& &?&'Elke Weintraub (4)''~
'8'''~
'8'' '
'?''
' '?'(Janet M. Wichman (4)((~
((((~
((( (
(?((
( (?(")Travis ? Edith Wichman (5)))~
)Z)))~
)Z)) )
)?))
) )?)*+,$____________________________1.)Created by Morningstar Document Research.0/(http://documentresearch.morningstar.com/$
,9Ujt=PF0*8X>
@z//..
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }m)}$ }y}$ }y}
$ }$}$ }$}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007SELLING STOCKHOLDERS
Number of Shares Owned Number of
Number of Shares
Percentage of
and to be Owned Prior to
Shares Being
Owned After
Shares OwnedSelling StockholderOffering(1)
Offered(1)
Offering(2)
After Offering(2)Ashleigh J. Zachar (4)~
"~
"
?
?*
"Zahaca Enterprises USA LLC (3)(11)
~
~
?
?
~
~
[~
[
?
?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,Txl`E=PF0*8X>
@z
l 5
k
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)NO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }U}$ }:
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007NO TITLE
*
2
*Less than one percent, based on 29,187,615.&shares outstanding as of May 23, 2007.
~
%Ownership is determined in accordance/'with Rule 13d3 under the Exchange Act.~
5Assumes the sale of all of the shares offered0(hereby to persons who are not affiliates$of the selling stockholders.~
3+Each of these selling stockholders acquired80the shares offered hereby on a private placement0(in May of 2005. Each selling stockholder/'purchased the shares offered hereby for4,their own account and not with a view toward
distribution.~
3+Each of these selling stockholders acquired1)the shares offered hereby in transactions3+on the Pink Sheets subsequent to the mergerDDlxlH<@J
Y
rA5) !"#$%&'()*+,./0123456789:;<=>? with Tamborine.!"~
##7#/Each of these selling stockholders (i) acquired$$6$.the shares offered hereby in private placement%%6%.in May of 2005, and (ii) holds shares included&&4&,in the 6,000,000 shares eligible for trading''1')on the Pink Sheets described herein. Each((0((selling stockholder purchased the shares))0)(offered hereby for their own account and**,*$not with a view toward distribution.+,~
1)ATC Trustees (Bahamas) Ltd. serves as the..2.*trustee of trusts for the benefit of Kevin//0/(and Paolo Cammarata and exercises voting0020*and investment authority over such shares.1151Peter A. Goddard, in his capacity as Director2262.and Secretary, is an authorized representative33&3of ATC Trustees (Bahamas) Ltd.456~
7717)Includes 205,200 shares held by the David8878/A. Schwedel Living Trust, of which Mr. Schwedel9929*is the beneficial owner, and acquired from::#:an employee of the Company.;<=~
>>.>&Includes 40,000 shares of common stock??/?'issuable upon exercise of options whichD l`l?3'>ME@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_@@0@(are currently exercisable or exercisableAAAwithin 60 days hereof.BCD~
EE3E+Mark Daeche, the Director of MD InvestmentsFF0F(Limited, exercises voting and investmentGG6G.authority over the shares held by this sellingHHHstockholder.IJK~
LL5LMarc Citron, the Director of Silo InvestmentsMM0M(Limited, exercises voting and investmentNN6N.authority over the shares held by this sellingOOOstockholder.PQR~
SS1S)Marc A. Pearl, Managing Partner of ZahacaTTT%Enterprises USA LLC, exercises votingUU0U(and investment authority over the sharesVV(V held by the selling stockholder.WXY~
ZZ1Z)Jason Burger and Robert Gleason, Managers[[0[(of Brand Equity LLC, exercise voting and\\1\)investment authority over the shares held]]$]by this selling stockholder.^_D>lznbVg7+t"63Z`abcdefghijklmnopqrstuvwxyz{}~`~
aa3a+Mr. Ferber was the Treasurer and a directorbb3b+of Tamborine at the time of the merger withcccSynthesis Florida.def~
gg2g*Mr. Gomez was the Chief Executive Officer,hh.h&President and Secretary and a directorii3i+of Tamborine at the time of the merger withjjjSynthesis Florida.klm~
nn1n)Mr. Schwieger was the Assistant Secretaryoo2o*and a director of Tamborine at the time ofpp)p!the merger with Synthesis Floridaqrs~
tt1t)The shares offered hereby by this sellinguu.u&stockholder were acquired by gift fromvv1v)Ford Allen, Inc. prior to the merger withww3w+Tamborine. Clifford Grossman, the Presidentxxx%of CG Capital Corp., exercises votingyy0y(and investment authority over the shareszz)z!held by this selling stockholder.{}~
~~1~)The shares offered hereby by this selling5stockholder were acquired from IFG InvestmentDlT`hb3~/'Services, Inc. prior to the merger with2*Tamborine. Clifford Grossman the President%of Ford Allen, Inc., exercises voting0(and investment authority over the shares)!held by this selling stockholder.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/guiA=PF0*8X>
@
l @#,
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLEPLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U } }$ }7
@
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007NO TITLE ~
1
)The shares offered hereby by this selling2*stockholder were acquired from Ford Allen,0(Inc. prior to the merger with Tamborine.
1
)Alan Roth, the President of Soiree Miami,%Inc., exercises voting and investment6.authority over the shares held by this sellingstockholder.~
3+Each of these selling stockholders acquired2*the shares offered hereby from Ford Allen,5Inc. subsequent to the merger with Tamborine.~
1)Includes 1,000,000 shares of common stock/'issuable upon exercise of options which0(are currently exercisable or exercisable0(within 60 days hereof. Upon the exercise/'of the option, Maher Mouasher, Director.&of Karinga Limited, Ltd. will exerciseDDlxlH? , $voting and investment authority over!!!
these shares."#$~
%%1%)The shares offered hereby by this selling&&2&*stockholder were acquired from Ford Allen,''0'(Inc. prior to the merger with Tamborine.((6(.Manual M. Arvesu, the Manager of Ocean Equity,)))%Inc., exercises voting and investment**6*.authority over the shares held by this selling+++stockholder.,.~
////'David A. Schwedel, the Managing Partner0050of Union Charter Capital VII, Inc., exercises1101(voting and investment authority over the2202(shares held by this selling stockholder.345~
6646,We will include the names and other required7707(information for the selling stockholders8858owning these 1,503,975 shares in an amendment99&9to the registration statement.:;<$=____________________________1>)Created by Morningstar Document Research.0?(http://documentresearch.morningstar.com/Dl{ocz(]QE9OAb=PF0*8X>
@??>>==
l .FDH
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }$}$ }:
.
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007PLAN OF DISTRIBUTION ?80ordinary brokerage transactions and transactions 7 /in which the brokerdealer solicits purchasers;
?/'block trades in which the brokerdealer1)will attempt to sell the shares as agent,
0
(but may position and resell a portion of0(the block as principal to facilitate thetransaction; ?1)purchases by a brokerdealer as principal/'and resale by the brokerdealer for itsaccount; ?.&an exchange distribution in accordance2*with the rules of the applicable exchange; ?*"privately negotiated transactions; ?/'short sales effected after the date the%registration statement, of which this3+prospectus is a part, is declared effectiveby the SEC; ?4,through the writing or settlement of optionsDR lxl`<3:E9 !"#$%&'()*+, . &or other hedging transactions, whether!!!1!)through an options exchange or otherwise;"# #?#1#)brokerdealers may agree with the selling$$$/$'stockholders to sell a specified number%%%0%(of such shares at a stipulated price per&&&&
share; and'( (?(2(*a combination of any such methods of sale.)*$+____________________________1,)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/ &QE<[=PF0*8X>
@,,++
l ha
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONBeneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }}$ }$}$ }U5
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007PLAN OF DISTRIBUTION Name Age Position
Lorenzo Lamadrid
~
Chairman of the BoardTimothy Vail~
.&President, Chief Executive Officer andDirector
David Eichinger
~
/
'Chief Financial Officer and Senior VicePresident ofCorporate DevelopmentDonald Bunnell~
1)President, Chief Executive Officer ? AsiaPacific andDirector Gregory (?Bruce?) Golden~
Chief Technologist
Carol Pearson~
4,Corporate Controller and Corporate SecretaryMichael Storey~
Director
Denis Slavich~
DirectorHarry Rubin~
Director$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>w
0xl`Fbv
!EJvj^6=PF0*8X>
@"
l $u
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }$}$ }7
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Beneficial Ownership ?6.each person who is known by us to beneficially 2 *own 5% or more of the outstanding class of
our capital stock; ?!each member of the Board;
?+#each of our executive officers; and ?3+all of our directors and executive officersas a group.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2ixl`eYG=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$4}$ }y}$ } }$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Beneficial Ownership # Numbers of Shares of Common % of Common Stock,
$Name and Address of Beneficial Owner
Stock Beneficially Owned
Outstanding (1)Donald Bunnell~
wtfffff4@ %Lorenzo Lamadrid (2)~
%@ %
Gregory ?Bruce? Golden
~
R
$@
%David A. Schwedel(3)~
B333333@ %Collison Limited (4)~
At@ %Azure International (5)~
f333333@ %Michael Storey (6)~
UZffffff@ %Timothy Vail (7)~
SHffffff@ %David Eichinger (8)~
*333333@ %Denis Slavich (9)~
*Harry Rubin (10)~
¶ *3+Executive Officers and Directors as a group~
@K@ %(8 persons)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BgXxl`n\I<=1n=PF0*8X>
@:
l Rl²
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }U}$ }$4
R
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007NO TITLE * Less than 1%
~
.&Based on 29,187,615 shares outstanding
as of May 23, 2007.~
.&Includes 25,000 shares of common stock3+issuable upon the exercise of options which0(are currently exercisable or exercisablewithin 60 days hereof.~
0(Includes 1,000,000 held by Union Charter1)Capital VII, Inc., for which Mr. Schwedel2*exercises voting and investment authority.~
/'Samer Mouasher is the principal of, and1)exercises voting and investment authorityDlxlHpdXq7+x* !"#$%&'()*+,./0123456789:;<=>? 2 *over the shares held by, this stockholder.!"#~
$$$%Christopher J. Raczkowski, Stephen M.%%/%'Terry and Juanli Han are the principals&&.&&of, and exercise voting and investment''/''authority over the shares held by, this(((stockholder.)*+~
,,.,&Includes 80,000 shares of common stock3+issuable upon the exercise of options which..0.(are currently exercisable or exercisable///within 60 days hereof.012~
33/3'Includes 965,000 shares of common stock4434+issuable upon the exercise of options which5505(are currently exercisable or exercisable666within 60 days hereof.789~
::/:'Includes 700,000 shares of common stock;;3;+issuable upon the exercise of options which<<0<(are currently exercisable or exercisable===within 60 days hereof.>?D6lCc3't(}.7b@ABCDEFGHIJKLMNOPQ@~
AA/A'Includes 105,000 shares of common stockBB3B+issuable upon the exercise of options whichCC0C(are currently exercisable or exercisableDDDwithin 60 days hereof.EFG~
HH.H&Includes 40,000 shares of common stockII3I+issuable upon the exercise of options whichJJ0J(are currently exercisable or exercisableKKKwithin 60 days hereof.LMN$O____________________________1P)Created by Morningstar Document Research.0Q(http://documentresearch.morningstar.com/(TXbuiA=PF0*8X>
@QQPPOO
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)NO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }%}$ } }$ }U}
$ }$}$ }U}$ }U}$ }$}$ }U} $
!!!!!!!!!! !
!!!
!!!!!!!!!!!$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Summary Compensation
Nonqualified
Deferred
Name and PrincipalFiscal
Compensation All OtherPositionYearSalary
Bonus
Stock Awards
Option AwardsEarningsCompensation
Total'
Timothy Vail, President and CEO
~
Z
~
R~
?
$?
~
Z~
?
$?
~
p
~
V
$?
?
$?
$? ?
$?
$? David Eichinger, CFO~
Z~
B~
?
$?~
[j~
?~
~
~
m ~
V
$?
?
$?
$? ?
$?
$? !Donald Bunnell, President~
Z~
S
?
$?
$? ?
$?~
S and CEO Asia Pacific~
V~
w
?
~
~
$? ?
$?~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4_xl`8Is*=PF0*8X>
@r.
l *
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationOutstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }U}$ }:
*
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007NO TITLE~
3 +Prior to May 30, 2006, Mr. Vail served only
3
+as a director, for which he did not receiveany cash compensation.~

%Time vested options. Value determined/'using a BlackSholes model. See Note 110(to the Consolidated Financial Statements/'for a discussion of assumptions made in'the valuation of option grants.~
3+Prior to May 30, 2006, Mr. Eichinger served80as a consultant to the Company. His compensation/'for these services is listed under ?AllOther Compensation.?~
2*Represents amounts paid under a consulting7/agreement between the Company and Mr. Eichinger1)which was effective from October 19, 20054,through May 1, 2006. Mr. Eichinger was hired4,by the Company as an employee on a permanent%basis effective May 30, 2006.~
5Mr. Bunnell was one of the Company?s foundersDlxlHnb5Abr" !"#$%&'() 1 )and received 7,402,500 shares in exchange!!4!,for his work for the Company and his initial""3"+capital contribution of $100,000 subsequent##1#)to our merger with Tamborine on April 18,$$~
$V%&$'____________________________1()Created by Morningstar Document Research.0)(http://documentresearch.morningstar.com/ca=PF0*8X>
@))((''
l #!!6"
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)DIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }}$ }
}$ }y}U}
$ }$}$ }$}$ }$}$ }$}$ }$}$ }$} "$ }##$}$$$
#%%%%%%%%%% %
%%%
%%%%%%%%%%%%%%%%%%%$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007!Outstanding Equity Awards
!"#$
Option Awards Stock Awards
!
"Equity
!" Incentive
!"Plan Awards
!
" Market or
Equity
Equity!"Payout
Incentive
Incentive!
"Value
Plan
Plan Awards:!
"of
Awards
MarketNumber!"UnearnedNumberNumber
Number
NumberValue of
of!"Shares,
of
of
of
of Shares Shares orUnearned!"Units or
Securities
Securities
Securities
or UnitsUnits ofShares,!
"Other
Underlying
Underlying
Underlying
of Stock
StockUnits or!"RightsUnexercisedUnexercised
Unexercised
Option That Have That HaveOther Rights!" That HaveOptionsOptions
Unearned
ExerciseOptionNotNot That Have!"Not(#)(#)
Options
Price
ExpirationVestedVested
Not Vested!"VestedNameExercisable
Unexercisable
(#)
~
Date(#)~
(#)!~
"(a)(b)(c)
(d)
(e)(f)(g)(h)(i)!"(j)Timothy Vail~
s~
u~
?
~
~
? ? ? !" #?$David Eichinger~
\~
sU~
?
~
!~
? ? ? !" #?$Donald Bunnell ? ?
?
? ? ? ? ? !" #?$D/"lsg[JDMv,
@_""$!!$ $
"$
"$
"$
"$
"$
"$
"$
"$
"$
"$
"$
"$
"$
"$"$"$
"$ $
l VB
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }}$ }$}$ }U}
$ }$}$ }$}$ }$}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007DIRECTOR COMPENSATION
Nonqualified
Fees Earned
NonEquity
Deferred
or Paid in
IncentiveCompensation All OtherNameCashStock Awards
Option Awards
CompensationEarningsCompensation
Total
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)Lorenzo Lamadrid~
? ~
v~
? ? ?~
Michael Storey
$? ? ~
/~
? ? ?~
/
Denis Slavich
$? ? ~
/~
? ? ?~
/Harry Rubin
$? ?
$?~
? ? ?
$?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2wk_j=PF0*8X>
@*%
l 1Q[>a
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATION!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }U}$ }I;
1
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007DIRECTOR COMPENSATION~
6 .Mr. Lamadrid was granted an option to purchase
4
,50,000 shares of common stock at an exercise6.price of $2.50 on November 7, 2005. The option0(vests in four equal annual installments,
1
)with the first installment vesting on the80date of grant. The option expires on November 7,~
j~
7/Each of Mr. Storey and Mr. Slavich were granted/'(i) an option to purchase 50,000 shares5of common stock at an exercise price of $2.501)per share on November 7, 2005 and (ii) an3+option to purchase 200,000 shares of common5stock at an exercise price of $3.00 per share1)on May 30, 2006. The options vest in four91and five equal annual installments, respectively,1)with the first installment vesting on the80date of grant. The options expire on November 7,,$2010 and May 30, 2011, respectively.~
0(Mr. Rubin began serving as a director on4,August 4, 2006. On that date, he was granted/'an option to purchase 160,000 shares ofD lwk_;EX2&5HYc !"#$%&'()*+,./0 2 *common stock at an exercise price of $3.00!!1!)per share. The option vests in five equal""7"/annual installments, with the first installment##0#(vesting on the date of grant. The option$$0$(expires on August 4, 2011. Additionally,%%0%(on March 26, 2007, Mr. Rubin was granted&&2&*an option to purchase an additional 40,000''3'+shares of common stock at an exercise price((4(,of $6.00 per share. The option vests in five))1))equal annual installments, with the first**5*installment vesting on the date of the grant.++/+'The option expires on February 7, 2010.,$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&@ez.AXL@=PF0*8X>
@00//..
l y
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)INDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }0}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007@8MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
Sales PriceHighLow"Year Ending June 30, 2005:0
(Third Quarter (beginning March 23, 2005)
!@
~
!
Fourth Quarter~
!!@"Year Ending June 30, 2006:
First Quarter~
!~
!Second Quarter!@!@
Third Quarter!#@~
!Fourth Quarter!@~
!"Year Ending June 30, 2007:
First Quarter~
!"!@Second Quarter!@!@
Third Quarter!@~
!+#Fourth Quarter (as of May 21, 2007)~
!.~
!$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/B
X`TH
@
l OؚĞ
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND RE
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }=}$ }}$
O
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007%INDEX TO FINANCIAL STATEMENTS/ 'Report of Independent Registered Public F2
Accounting Firm2*Consolidated Balance Sheets as of June 30,F3
2006 and 2005%Consolidated Statements of OperationsF42*for the years ended June 30, 2006 and 2005;3and the period from November 4, 2003 (inception) to
June 30, 2006/'Consolidated Statement of Stockholders?F50(Equity for years ended June 30, 2006 and1)2005 and the period from November 4, 2003$(inception) to June 30, 2006%Consolidated Statements of Cash FlowsF62*for years ended June 30, 2006 and 2005 and7/the period from November 4, 2003 (inception) to
June 30, 20066.Notes to the Consolidated Financial StatementsF72*for years ended June 30, 2006 and 2005 andD l{ocW^<r{?jQ !"#$%&'()*+,./0123456789:;<=>?7 /the period from November 4, 2003 (inception) to!
June 30, 2006"""""#$%Condensed Consolidated Balance Sheets$$$F20$5%as of March 31, 2007 (unaudited) and June 30,~
&Z'(((((),*$Condensed Consolidated Statements of***F21*6+.Operations for the nine months ended March 31,5,2007 and 2006 and the period from November 4,6.2003 (inception) to March 31, 2007 (unaudited)./////0,1$Condensed Consolidated Statements of111F22172/Operations for the three months ended March 31,!32007 and 2006 (unaudited)4555556971Condensed Consolidated Statement of Stockholders?777F23738+Equity for the three months ended March 31,92007 (unaudited):;;;;;<,=$Condensed Consolidated Statements of===F24=6>.Cash Flows for the nine months ended March 31,5?2007 and 2006 and the period from November 4,DlpdpdSG`;/v?#k@ABCDEFGHIJKLMN6@.2003 (inception) to March 31, 2007 (unaudited)ABBBBBC1D)Notes to Unaudited Condensed ConsolidatedDDDF25D.E&Financial Statements for the three and1F)nine months ended March 31, 2007 and 2006;G3and the period from November 4, 2003 (inception) to"HMarch 31, 2007 (unaudited)IJK$L____________________________1M)Created by Morningstar Document Research.0N(http://documentresearch.morningstar.com/"~r c=1%=PF0*8X>
@NNMMLL
l 9t
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTSIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }U5}$ }}$ }}$
9
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007
Balance Sheet
June 30, 2006
June 30, 2005
ASSETS
Current assets:Cash~
~
22
*Prepaid expenses and other currents assets
~
~
(Note 3)Total current assets~
~
20(Property, plant and equipment, net (Note~
~
\~
&Intangible asset, net (Note 5)~
&v~
ƅTotal assets~
#~
,$LIABILITIES AND STOCKHOLDERS? EQUITYCurrent liabilities:1)Accrued expenses and other payables (Note~
~
N~
Loan from a shareholder ?~
DlsgDBNBFZ ! " # $ % & ' ( ) * + ,  . / 0 1 2 3 4 5 6 7 8 Total liabilities ~
~
F !!!!!!!!!"Stockholders? Equity:""""""""2#*Common stock, $0.01 par value: 100,000,000##~
#.###~
##4$,shares authorized: 24,647,500 and 28,030,0003%+shares issued and outstanding, respectively& (Note 10),'$Additional paidin capital (Note 10)''~
'R>'''~
'겥'.(&Deficit accumulated during development((~
(ҭ(((~
( (
)stage*******+++++++++",Total stockholders? equity,~
, ,,~
, V,........../&Commitments and contingencies (Note 9)// /?/// /?/000000011111111122*Total liabilities and stockholders? equity2~
2 #22~
2 2333333345$6____________________________17)Created by Morningstar Document Research.08(http://documentresearch.morningstar.com/6
tJ9yG_q=PF0*8X>
@8877662222,,,,
l 6O
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$4}$ }}$ }I}
$ }}$
6
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Income Statement
November 4, 2003
Year Ended
Year Ended
(inception)
June 30, 2006
June 30, 2005
To June 30, 2006 Net Sales
$?
$?
$?
Costs of goods sold ? ?
?
Gross Profit ? ?
?
+#General and administrative expenses
and other expenses:+#General and administrative expenses~
~
~
Stockbased compensation~
vEF ?
~
vEF$Project development expenses~
~
U
~
^Technical development~
z7~
~
2
Operating loss~
ѻ~
x ~
C
Nonoperating income:
Dlpd(h[cvN:
!
"
#
$
%
&
'
(
)
*
+
,

.
/
0
1
2
3
4
5
Interest Income ~
~
~
n !!!!!!!!!! !
!!"Interest expense"" "?"""~
""" "
~
""######## #
#$$$$$$$$$$ $
$$*%"Net loss before income tax benefit%%~
%b%%%~
%'%% %
~
%ҭ%&&&&&&&&&& &
&&'Income tax benefit'' '?''' '?'' '
'?'(((((((( (
()Net loss)~
) b))~
) ')) ~
)
ҭ)******** *
*++++++++++ +
++$,Net loss per share (Note 8):,,,,,,,,, ,
,,Basic and diluted!RQȿ!{Gz 
!ɿ.......... .
..3/+Weighted average common shares outstanding:///////// /
// 0Basic and diluted shares00~
0n000~
0zz00 0
~
0n012$3____________________________14)Created by Morningstar Document Research.05(http://documentresearch.morningstar.com/0
O*egx[OC=PF0*8X>
@554433
))))))
l 07T(
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome Statement
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }U5}$ }}U}$ }
}U}
$ }
}$ }}$ }y}$
0
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Shareholders' Equity
Deficit
Common Stock
Accumulated
Common
Additional
During theShares
Stock
Paidin Capital
Development Stage
Total/
'Balance at November 4, 2003 (inception)
~
~
$?
$?
$?
$?
0(Net loss for the period November 4, 2003 ? ?
?
~
"~
"to June 30, 2004
Balance at June 30, 2004~
$?
$?
~
"~
"
"Shares Forfeited in Merger~
(2) ?
?
? ?Shares Issued in Merger~
~
?
?
? ?Net loss for the year ? ?
?
~
'~
'Investor contributions ?~
~
~
d
?~
$Conversion of debt to equity ?~
Z~
~
Q
?~
4,Net proceeds from private placement offering~
>~
~
J
?~
:
Balance at June 30, 2005~
Ю~
~
겥
~
~
V
Dolxl`dy4w !"#$%&'()*+,./ Net loss for the year ? ?
?
~
b ~
b !!!!!!!!!! !
!!!
!!!!!!!4",Net proceeds from private placement offering""~
"B4;"""~
""" "
~
"(""
" "?"""~
"Z"########## #
###
####### $Stockbased compensation$$ $?$$$ $?$$ $
~
$$$
$ $?$$$~
$$%%%%%%%%%% %
%%%
%%%%%%%.&&Adjustment related to return of shares&&~
&2X&&&~
&W&& &
~
&&&
& &?&&& &?&'''''''' '
''
'''''(((((((((( (
(((
((((((( )Balance at June 30, 2006))~
)2]))~
) .)) ~
)
R>))
~
) ҭ))~
) )******** *
**
*****+,$____________________________1.)Created by Morningstar Document Research.0/(http://documentresearch.morningstar.com/$,~=PF0*8X>
@//..))))
))))
l DLH]^
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }1}$ }y}$ }y}
$ }y}$
D
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007
Cash Flows
November 4, 2003
Year Ended
Year Ended
To June 30, 2006
June 30, 2006
June 30, 2005
(Since Inception)%Cash flows from operating activities:
Net loss~
b~
' ~
ҭ
0(Adjustments to reconcile net loss to net
.&cash provided by operating activities:
Stockbased compensation~
?
~
,$Depreciation of property, plant, and~
=~
~
B equipment
( Amortization of intangible asset~
~
~
&
.&Increase in prepaid expenses and other~
P~
z
~
.ocurrent assets
.&Increase in accrued expenses and other~
~
N
~
payables
Dlvj..pz%P6n
!
"
#
$
%
&
'
(
)
*
+
,

.
/
0
1
2
3
4
5
6
7
8
9
:
;
<
=
>
?
!%Net cash used in operating activities!~
! !!~
! O!! ~
!
ly!"""""""" "
"########## #
##$%Cash flows from investing activities:$$$$$$$$$ $
$$%%%%%%%%%% %
%%&Capital expenditures&&~
&΄&&&~
&&& &
~
&2&'''''''' '
'(((((((((( (
(()%Net cash used in investing activities))~
)΄)))~
))) )
~
)2)********** *
**+%Cash flows form financing activities:+++++++++ +
++.,&Proceeds from issuance of common stock,,~
,Z,,,~
,",, ,
~
,G,/'Loans from (repayments to) shareholders~

~
Z 
~
........ .
.1/)Net cash provided by financing activities/~
/ b//~
/ %// ~
/
H/00000000 0
01Net increase in cash11~
1P111~
1j11 1
~
11.2&Cash and cash equivalents at beginning22~
22222~
2B22 2
2?23
of the period44444444 4
4/5'Cash and cash equivalents at end of the5~
5 55~
5 255 ~
5
56period77777777 7
78888888888 8
88+9#Supplemental cash flow information:999999999 9
99:Cash paid for interest:~
: Z::~
: #:: ~
:
"&:";Cash received for interest;~
; ;;~
; ;; ~
;
n;<Noncash transactions:<<<<<<<<< <
<< =Stockbased compensation=~
= ==
=$?== ~
=
=$>Conversion of debt to equity>
>$?>>~
> >> ~
>
>?DldIP"#bY:,uav.@
A
B
C
@$A____________________________1B)Created by Morningstar Document Research.0C(http://documentresearch.morningstar.com/<=PF0*8X>
@"CCBBAA>>>>>>
======
;;;;;;
::::::
555555
//////
!!!!!!
l !K
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }6}$ }y}$ }
}
$ }y}$
!
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007%Consolidated Statements of Cash Flows
November 4, 2003
Year Ended June 30,
(inception)
~
"Z~
"V
to June 30, 2006Net loss, as reported~
b~
' ~
ҭ+
#Add: Total stockbased compensation
~
?
~
recorded, net of tax5Less: Total stockbased employee compensation~
. ?
~
.1)expense determined under fair value based1)method for all awards, net of related taxeffects (1)
Pro forma net loss~
+~
' ~
Kk
Net loss per share:
&Basic and diluted, as reported!RQȿ!{Gz
!ɿ#Basic and diluted pro formaq=
ףpͿ{Gz
Qο
%Weightedaverage fair value per share!Q@$N/A
!Q@of options granted (1)$____________________________1)Created by Morningstar Document Research.DAlsg[OfOG3w
0 (http://documentresearch.morningstar.com/H=PF0*8X>
@
l ߓ
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }*}$ }}$ }}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007>6Note 3 #151; Prepaid expenses and other current assets As of June 30,
~
"Z
~
"V
Prepaid insurance~
$?+#Prepaid legal ? consulting services~
~
B'
Prepaid rent ? related deposits
~
2
~
Employee advances~
D~
R
Other~
*6 ?~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6MbVJ><@0hPD8=PF0*8X>
@R
l $
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$}$ }$}$ }
}$ }
}
$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/20072*Note 4 #151; Property, plant and equipment
As of June 30,
Estimated useful lives
~
"Z
~
"V
Furniture and fixtures2 to 3 years~
0~
6.
Leasehold improvements
Lease term~
#~
#
Computer equipment
3 years
~
Ƈ
~
F
~
~
^a
&Less: Accumulated depreciation~
B~
Net book value~
~
\
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:
nbVJpX3 /#=PF0*8X>
@b
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/20072*Note 4 #151; Property, plant and equipment
As of June 30, 2006
As of June 30, 2005
Gross
Gross carrying
Accumulated
carryingAccumulatedEstimated useful lifeamount
amortization
amountamortization"
Use rights of ?UGAS ? ?:
10 years
~
B
~
&
~
B
~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,
nbVJN, =PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)Note 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }2}$ }
}$ }}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/200780Note 6 #150; Accrued expenses and other payables As of June 30,
~
"Z
~
"V
Reimbursable expenses~
X~
f2*Technical, engineering and design services~
5 ?'
Audit, tax and other consulting
~
?
Accrued payroll~
fy~
b[
Other~
m~
~
~
N$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6Oh\PDB
@R
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andProvision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }y
}$ }}$ }I}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/200780Note 6 #150; Accrued expenses and other payables Year ended June 30,
~
"Z
~
"V
Domestic~
0~
*Foreign~
f~
vc
Net loss~
b~
'$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0oh\PD=fF=PF0*8X>
@R
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }7}$ }}$ }I}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007"Provision for income taxes Year ended June 30,
~
"Z
~
"V
Net loss~
b~
'.
&Computed tax benefit at statutory rate
~
J
~
Z
Other~
~
6.Tax on income/(losses) from foreign operations~
%~
2Valuation allowance~
I~
$?
$?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8~rfZS s[=PF0*8X>
@R
l !
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }<(}$ }y}$ }}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007)!Deferred tax assets (liabilities) Year ended June 30,
~
"Z
~
"V
Deferred tax assets:( Net operating loss carry forward~
~
%
Depreciation and amortization
~
?
!Accrued professional fees~
? Stockbased compensation~
և> ?Other accruals~
?Subtotal~
I~
Valuation allowance~
>~
?)!Net deferred assets (liabilities)
$?
$?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>
0wk_SLT@
@R
l u4
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }*}$ }
}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Lease commitments Year Ending June 30, ~
^
~
}
~
b~
v
+#Total future minimum lease payments~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.{oc'c'rfZ2=PF0*8X>
@*
l G
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitments!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }*}$ }
}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007License agreement Year Ending June 30, ~
^
~
~
b~
"N
+#Total future minimum lease payments~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.{oc'c'rfZ2=PF0*8X>
@*
l Cl
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreementNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }0.}$ }y}$ } }
$ }$}$ }$}$ }y}$ } }$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007=5Note 11 #150; Accounting for stockbased compensation
November 4, 2003
(inception)
~
"Z ~
"Vto June 30, 2006Weighted
WeightedWeighted
Average
Average
Average
SharesExercise Price
Shares
Exercise PriceSharesExercise Price%Outstanding beginning of year
$?
$? ?
$?Granted~
1(\@
?
?~
1(\@ Exercised ? ?
?
? ? ?Forfeited or canceled~
HzG@
?
?~
HzG@
Outstanding, end of year~
%(\@
?
?~
%(\@
Exercisable, end of year~
b=!Gz@
?
?~
b=!Gz@.&Weighted average grantdate fair value!Q@
$?!Q@of options granted$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>0cWK?,^#t8=PF0*8X>
@
l R
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocBalance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }0}$ }y}$ }U}$ }y}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007=5Note 11 #150; Accounting for stockbased compensation
Weighted
Average
Remaining
Weighted
WeightedRange of ExerciseNumberContractual
Average
NumberAverage
Prices
Outstanding
Life (Years)
Exercise Price
Exercisable
Exercise Price$2.50 to $3.00~
%@
!(\@
~
b=!Gz@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,cWK?CE}ui]5=PF0*8X>
@
l 8'
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }U5}$ }
}$ }}$
8
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007
Balance Sheet March 31, 2007
June 30, 2006
(Unaudited)
ASSETSCurrent assets:
Cash
~
~
2*Prepaid expenses and other currents assets~
0~
Total current assets~
<~
*"Property, plant and equipment, net~
~
Constructioninprogress~
f< ?Project prepayments~
O ?Longterm land lease~
75 ? Deferred financing costs~
?Intangible asset, net~
^Bl~
&vTotal assets~
OM~
#,$LIABILITIES AND STOCKHOLDERS? EQUITYCurrent liabilities:+#Accrued expenses and other payables~
&R~
Longterm liabilities:Longterm bank loan~
2 ?DKlsg!4>fMH<049 ! " # $ % & ' ( ) * + ,  . / 0 1 2 3 4 5 6 7 !Total liabilities!!~
!)!!!~
!!"""""""#Minority interest##~
#"P### #?#$Stockholders? equity:$$$$$$$$2%*Common stock, $0.01 par value: 100,000,000%%~
%3%%%~
%.%4&,shares authorized: 28,183,715 and 24,647,500%'shares issued and outstanding"(Additional paidin capital((~
(U(((~
(R>(.)&Deficit accumulated during development))~
):d)))~
)ҭ)
*stage.+&Accumulated other comprehensive income++~
+k+++ +?+,,,,,,,"Total stockholders? equity~
~
.......%/Commitments and contingencies// /?/// /?/000000021*Total liabilities and stockholders? equity1~
1 OM11~
1 #1222222234$5____________________________16)Created by Morningstar Document Research.07(http://documentresearch.morningstar.com/4[
+W<Q7X."=PF0*8X>
@r7766551111
l L4
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$4}$ }}$ }I}
$ }}$

$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007%Condensed Consolidated Balance Sheets
Nine Months Ended
November 4, 2003
March 31,
(Inception) to
~
"^~
"Z
March 31, 2007 Net Sales
$?
$?
$?
Costs of goods sold
?
?
?
Gross profit ? ?
?/'General and administrative expenses and
other expenses:+#General and administrative expenses~
RI~
.
~
" Stockbased compensation~
O~
>
~
!Project development costs~
R~
~
͓Technical development~
RR~
~
+
Operating loss~
~
v ~
b)z
Nonoperating income
Interest income~
.~
~
!Interest expense ? ?
~
*"Net loss before income tax benefit~
~
{
~
ڳ
Income tax benefit ? ?
?DTlsg[O>I*JAU
!
"
#
$
%
&
'
(
)
*
+
,
Minority interest ~
b ?
~
b !!!!!!!! !
!"Net loss"~
" ""~
" {"" ~
"
:d"######## #
#$Net loss per share:$$$$$$$$$ $
$$%Basic and diluted%%!{GzԿ%%%!{Gz%% %
!p=
ף%3&+Weighted average common shares outstanding:&&&&&&&&& &
&& 'Basic and diluted shares''~
''''~
'&'' '
~
''()$*____________________________1+)Created by Morningstar Document Research.0,(http://documentresearch.morningstar.com/NP)
=PF0*8X>
@,,++**%%%%%%
""""""
l 0[
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance !Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }8}$ }}$ }I}$
0
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007%Condensed Consolidated Balance Sheets
Three Months Ended
March 31,~
"^~
"Z
Net Sales
$?
$?
Costs of goods sold ? ?Gross profit ? ?/'General and administrative expenses andother expenses:+#General and administrative expenses~
~
Stockbased compensation~
~
J!Project development costs~
B~
F[Technical development ?~
Operating loss~
P~
zNonoperating incomeInterest income~
"~
6IInterest expense ? ?7/Net loss before income tax benefit and minority~
.W~
HinterestDlsg[O\"T~*de ! " # $ % & ' ( ) * + ,  . / !Income tax benefit!! !?!!! !?!"Minority interest""~
"b""" "?"#######$Net loss$~
$ nX$$~
$ H$%%%%%%%&Net loss per share:&&&&&&&&'Basic and diluted''!'''!{Gz'3(+Weighted average common shares outstanding:(((((((( )Basic and diluted shares))~
)2)))~
))*+,$____________________________1.)Created by Morningstar Document Research.0/(http://documentresearch.morningstar.com/$`,,X%}qI=PF0*8X>
@r//..''''$$$$
l S
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)Unaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }U5}$ }}$ }}
$ }}$ }}$ }}$ }}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007NFUnaudited Condensed Consolidated Statement of Stockholders#146; Equity
Deficit
AccumulatedAccumulated
Additional
During the
Other
Common Stock
Paidin
Development
Comprehensive
SharesAmount
Capital
StageIncome
Total Balance at June 30, 2006~
2]~
. ~
R>
~
ҭ
$?~
Net loss for the period ? ?
?
~
?~
'Currency translation adjustment ? ?
?
?~
k~
k4,Net proceeds from private placement offering~
4~
~
F
? ?~
P Stockbased compensation ? ?
~
b5
? ?~
b5%Shares issued for amended GTI license~
~
~
S
? ?~
T
!Balance at March 31, 2007~
2~
3 ~
U
~
:d~
k~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BXRF:.,~#?*F:."=PF0*8X>
@
l <9bK
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed Consolidate!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }6}$ }y}$ }
}
$ }y}$
<
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007A9Unaudited Condensed Consolidated Statements of Cash Flows
Nine Months Ended
November 4, 2003
March 31,
(Inception) to~
"^~
"Z
March 31, 2007
%Cash flows from operating activities:
Net loss~
~
{ ~
:d0(Adjustments to reconcile net loss to net
.&cash provided by operating activities: Stockbased compensation~
b5~
$/
~
j5Depreciation of property, plant and equipment~
~
+
~
Y/'Loss on disposal of property, plant and~
! ?
~
! equipment,$Amortization of longterm land lease~
r. ?
~
r.( Amortization of intangible asset~
~
~
.&Increase in prepaid expenses and other~
~
~
Ccurrent assets/'Increase (decrease) in accrued expenses~
zy~
~
Aand other payables
%Net cash used in operating activities~
,~
\
~
%Cash flows from investing activities:
DFl_SG;)h2c7T6
!
"
#
$
%
&
'
(
)
*
+
,

.
/
0
1
2
3
4
5
6
7
8
9
:
;
Capital expenditures ~
Fj ~
~
*h '!Amendment of GTI license rights!!~
!{!!! !?!! !
~
!{!"Longterm land lease""~
"Ι""" "?"" "
~
"Ι"#Project prepayments##~
#5### #?## #
~
#5#$$$$$$$$ $
$%%Net cash used in investing activities%~
% ZL%%~
% %% ~
%
J%&&&&&&&& &
&'''''''''' '
''(%Cash flows from financing activities:((((((((( (
((.)&Proceeds from issuance of common stock))~
)P)))~
)Z)) )
~
)3"))*!Proceeds from longterm bank loan**~
*2*** *?** *
~
*2*3++Contribution from minority interest partner++~
+"P+++ +?++ +
~
+"P+/,'Loans from (repayments to) stockholders,, ,?,,,~
,
,, ,
~
,, 
1.)Net cash provided by financing activities.~
. 2^..~
. b.. ~
.
".//////// /
/0Net increase in cash00~
0vH000~
0:00 0
~
060%1Cash, beginning of the period11~
1111~
1211 1
1?1(2 Effect of exchange rates on cash22~
2No222 2?22 2
~
2No233333333 3
34Cash, end of the period4~
4 44~
4 644 ~
4
455555555 5
5678$9____________________________1:)Created by Morningstar Document Research.0;(http://documentresearch.morningstar.com/<#J!1iG:v=PF0*8X>
@;;::99444444
......
%%%%%%
l
@
l w
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }0.}$ }$}$ }$}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007*"Effect of Adopting SFAS No. 123(R)
Nine Months
Three Months
Ended
EndedMarch 31, 2007March 31, 2007
Stockbased compensation
~
b5
~
NEQ
+#Related deferred income tax benefit ? ?.&Decrease in basic and diluted earnings!
ףp=
ǿ! per share$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/64vj^RAy
ui]Q)=PF0*8X>
@j
l #3
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }6}$
#
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007+#Prior Period Pro Forma Presentation
Nine Months
Three Months
Ended
Ended March 31, March 31,
~
"Z
~
"ZNet loss, as reported~
{~
H5Add: total stockbased compensation recorded,~
$/~
2
net of tax5Less: total stockbased employee compensation~
N]~
Z1)expense determined under fair value based)!method for all awards, net of taxPro forma net loss~
_~
Net loss per share:%Basic and diluted as reported!{Gz!{Gz#Basic and diluted pro forma!Q뱿!QD
lui]Q@ET>M=A ! " $ ____________________________1!)Created by Morningstar Document Research.0"(http://documentresearch.morningstar.com/
(=PF0*8X>
@""!!
l ^
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma PresentaAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }I"}$ } }$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Assumptions
Three Months EndedMarch 31, 2007 Riskfree rate of returnGz@ %
Expected life of award
3.5 yearsExpected dividend yield~
%$Expected volatility of stockHzR@ %#Weightedaverage fair value!zG@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2lui!^f =PF0*8X>
@:
l x
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }'}$ }y}$ }$}
$ }U}$ }$}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Assumptions
Weighted
Weighted
Average
Average
Remaining
Aggregate
Number of
Exercise
Contractual
IntrinsicShares
Price
Term
Value( Outstanding at December 31, 2006~
2G!Q @
@
!ffffff/@Granted~
E!Gz@
@
!? Exercised ? ?
?
?Canceled ? ?
?
?%Outstanding at March 31, 2007~
K!)\(
@
@
!/@%Exercisable at March 31, 2007~
RI!Gz @
@
!333333@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:WuiZ,D_znbV.=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }}$ }y}$ }U}$ }y}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Assumptions
Weighted
Weighted
WeightedAverage
Average
AverageNumber Remaining
Exercise
NumberExercise
Range of Exercise Prices
Outstanding
Life (Years)
Price
Exercisable
Price$2.50 to $3.00~
.@
!(\@
~
C!Q@$3.01 to $7.00~
ffffff@
!{Gz@
~
b!{Gz@
Total~
K
~
RI
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6[uima#[SKOJNB6*=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }%}$ }y}$ } }$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Assumptions
Weighted Average
Number of
Grant DateShares
Fair Value'
Nonvested at December 31, 2006
~
!(\@
Granted~
EzG@Vested~
b\(\@Canceled ? ?$Nonvested at March 31, 2007~
\!(\@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:ui/:dt=PF0*8X>
@R
l m
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Assumptions
As of March 31, 2007
As of March 31, 2006
Gross carrying
Accumulated
Gross carryingAccumulatedEstimated useful lifeamount
amortization
amountamortization!
Use rights of ?UGAS ?? :
10 years
~
n"s
~
~
B
~
:"
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.8uima! =PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }$}$ }6
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Delaware Law ?0(for any breach of the director?s duty of * "loyalty to we or its stockholders;
?2*for acts or omissions not in good faith or.&that involve intentional misconduct or
#
a knowing violation of law; ?/'in respect of certain unlawful dividend5payments or stock redemptions or repurchases;and ?3+for any transaction from which the director%derives an improper personal benefit.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8thVQY=PF0*8X>
@
l 5
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware LawItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }8}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007<4Item 25. Other Expenses of Issuance and Distribution7 /Securities and Exchange Commission registration ~
V
fee$Accounting fees and expenses~
Legal fees and expenses~
'Printing and engraving expenses~
B
Miscellaneous~
B
Total~
B$$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:dXL@dm}F
=PF0*8X>
@J
l xMYdl
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }U}$ }>
x
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007#Item 27. Index to Exhibits.
@
3
+Certificate of Incorporation of the Company%(incorporated by reference to Exhibit3+3.1 to the Company?s Registration Statement
2
*(Registration No. 333140367) on Form SB2#filed on January 31, 2007). @2*Amended and Restated Bylaws of the Company1)(incorporated by reference to Exhibit 3.280to Amendment No. 2 to the Company?s Registration/'Statement (Registration No. 333140367).&on Form SB2 filed on March 30, 2007).
4.1**0(Specimen Stock Certificate (incorporated4,by reference to Exhibit 4.1 to the Company?s,$Registration Statement (Registration91No. 333140367) on Form SB2 filed on January 31,~
^ffffff@0(Opinion of Porter ? Hedges, L.L.P., with.&respect to legality of the securities,4,including consent (incorporated by reference4,to Exhibit 5.1 to the Company?s RegistrationD l}qeY5s$s~3t$a= !"#$%&'()*+,./0123456789:;<=>? / 'Statement (Registration No. 333140367)!!0!(on Form SB2 filed on January 31, 2007)."""#333333$@#/#'Amended and Restated Agreement and Plan$$1$)of Merger among Tamborine Holdings, Inc.,%%.%&SES Acquisition Corporation, Synthesis&&2&*Energy Holdings, Inc. and the shareholders''0'(of Synthesis Energy Holdings, Inc. dated((0((April 4, 2005 (incorporated by reference))1))to Exhibit 10.1 to Amendment No. 1 to the**6*.Company?s Registration Statement (Registration++7+/No. 333140367) on Form SB2 filed on March 30,,,~
,^.ffffff$@.3.+First Amendment to the Amended and Restated//1/)Agreement and Plan of Merger by and among0010)the Company, SES Acquisition Corporation,1101(Synthesis Energy Holdings, Inc., and the2212)shareholders listed on the signature page3353thereto dated December 29, 2006 (incorporated4454by reference to Exhibit 10.2 to the Company?s55,5$Registration Statement (Registration66961No. 333140367) on Form SB2 filed on January 31,77~
7^888
910.3*9.9&Amended and Restated License Agreement::0:(by and between Synthesis Energy Systems,;;/;'Inc. and Gas Technology Institute dated<<<August 31, 2006.===>$@>>%Cooperative Joint Venture Contract of??4?,SES (Zaozhuang) New Gas Company Ltd. betweenD3liE]w*_;LbtN*D@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_@@0@(Shandong Hai Hua Coal ? Chemical CompanyAA6A.Ltd. and Synthesis Energy Systems Investments,BB0B(Inc. dated July 6, 2006 (incorporated byCC2C*reference to Exhibit 10.4 to the Company?sDD,D$Registration Statement (RegistrationEE9E1No. 333140367) on Form SB2 filed on January 31,FF~
F^GGGH%@H.H&Amendment to Cooperative Joint VentureII3I+Contract of SES (Zaozhuang) New Gas CompanyJJ5JLtd. between Shandong Hai Hua Coal ? ChemicalKK1K)Company Ltd. and Synthesis Energy SystemsLL0L(Investments, Inc. dated November 8, 2006MMM%(incorporated by reference to ExhibitNN4N,10.5 to the Company?s Registration StatementOOO%(Registration No. 333140367) on FormPP(P SB2 filed on January 31, 2007).QQQ
R10.6*R/R'Contract for Synthesis Gas Purchase andSS2S*Sales by and between Shandong Hai Hua CoalTT4T,? Chemical Company Ltd. and Synthesis EnergyUU0U(Systems (Zaozhuang) New Gas Company Ltd.VVVdated October 22, 2006.WWW
X10.7?X0X(Employment Agreement between the CompanyYY<Y4and Timothy E. Vail dated May 30, 2006 (incorporatedZZ1Z)by reference to Exhibit 10.7 to Amendment[[5[No. 2 to the Company?s Registration Statement\\2\*(Registration No. 333140367) on Form SB2]]!]filed on March 30, 2007).^^^
_10.8?_1_)Amendment to Employment Agreement betweenDSlb+BXv2p u$.`abcdefghijklmnopqrstuvw``:`2the Company and Timothy E. Vail dated November 15,aa7a/2006 (incorporated by reference to Exhibit 10.8bb/b'to the Company?s Registration Statementcc2c*(Registration No. 333140367) on Form SB2dd#dfiled on January 31, 2007).eee
f10.9?f0f(Employment Agreement between the Companygg.g&and David Eichinger dated May 30, 2006hh2h*(incorporated by reference to Exhibit 10.9ii/i'to the Company?s Registration Statementjj2j*(Registration No. 333140367) on Form SB2kk#kfiled on January 31, 2007).lllm10.10 ?m1m)Amended and Restated Employment Agreementnn1n)between the Company and Donald P. Bunnelloo6o.dated July 14, 2006 (incorporated by referencepp6p.to Exhibit 10.10 to the Company?s Registrationqq/q'Statement (Registration No. 333140367)rr0r(on Form SB2 filed on January 31, 2007).st$u____________________________1v)Created by Morningstar Document Research.0w(http://documentresearch.morningstar.com/4W[
r'v"1Z=PF0*8X>
@wwvvuu
l jŞ
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }y
}$ }I;
j
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007#Item 27. Index to Exhibits. 10.11? 0 (Consulting Agreement between the Company
/
'and Lorenzo Lamadrid dated May 30, 20063+(incorporated by reference to Exhibit 10.11/'to the Company?s Registration Statement
2
*(Registration No. 333140367) on Form SB2#filed on January 31, 2007).10.12?0(Amended and Restated 2005 Incentive Plan3+(incorporated by reference to Exhibit 10.1380to Amendment No. 3 to the Company?s Registration/'Statement (Registration No. 333140367)+#on Form SB2 filed on May 1, 2007).10.13?3+Form of Nonstatutory Stock Option Agreement6.(four year vesting) (incorporated by reference6.to Exhibit 10.13 to the Company?s Registration/'Statement (Registration No. 333140367)0(on Form SB2 filed on January 31, 2007).10.14?3+Form of Nonstatutory Stock Option Agreement6.(five year vesting) (incorporated by reference6.to Exhibit 10.14 to the Company?s Registration/'Statement (Registration No. 333140367)D l}qeY5IqMX
M^G !"#$%&'()*+,./0123456789:;<=>? 0 (on Form SB2 filed on January 31, 2007).!!!"L$@"3"+Shareholder?s Loan Agreement by and between###%Synthesis Energy Systems Investments,$$5$Inc. and Synthesis Energy Systems (Zaozhuang)%%7%/dated March 20, 2007 (incorporated by reference&&2&*to Exhibit 10.15 to Amendment No. 2 to the''6'.Company?s Registration Statement (Registration((7(/No. 333140367) on Form SB2 filed on March 30,))~
)^***+RQ$@+4+,Fixed Assets Loan Contract between Synthesis,,2,*Energy Systems (Zaozhuang) New Gas Company/'Ltd. and Industrial and Commercial Bank..3.+of China dated March 27, 2007 (incorporated//2/*by reference to Exhibit 10.16 to Amendment0050No. 2 to the Company?s Registration Statement1121*(Registration No. 333140367) on Form SB222!2filed on March 30, 2007).3334ףp=
W$@414)Amended and Restated Commitment Agreement5535+dated November 30, 2006 between the Company66961and Union Charter Capital VII, Inc. (incorporated7767.by reference to Exhibit 10.15 to the Company?s88,8$Registration Statement (Registration99991No. 333140367) on Form SB2 filed on January 31,::~
:^;;;<\(\$@<<%Second Amendment to Cooperative Joint==/='Venture Contract of SES (Zaozhuang) New>>.>&Gas Company Ltd., between Shandong Hai??6?.Hua Coal ? Chemical Company Ltd. and SynthesisDal;N[5m"42
@iihhgg
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }U}$ }$4
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007#Item 27. Index to Exhibits.
*
0
(Filed herewith. Portions of this exhibit/'have been omitted pursuant to a request%for confidential treatment filed with
.
&the Securities and Exchange Commission2*and this exhibit has been filed separately3+with the Securities and Exchange Commission( in connection with such request.
**Filed herewith. ?0(Management contract or compensatory planor arrangement$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@D}qeY5)Ha_!=PF0*8X>
@
l xm
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }U}$ }>
x
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Index to Exhibits.
@
3
+Certificate of Incorporation of the Company%(incorporated by reference to Exhibit3+3.1 to the Company?s Registration Statement
2
*(Registration No. 333140367) on Form SB2#filed on January 31, 2007). @2*Amended and Restated Bylaws of the Company1)(incorporated by reference to Exhibit 3.280to Amendment No. 2 to the Company?s Registration/'Statement (Registration No. 333140367).&on Form SB2 filed on March 30, 2007).
4.1**0(Specimen Stock Certificate (incorporated4,by reference to Exhibit 4.1 to the Company?s,$Registration Statement (Registration91No. 333140367) on Form SB2 filed on January 31,~
^ffffff@0(Opinion of Porter ? Hedges, L.L.P., with.&respect to legality of the securities,4,including consent (incorporated by reference4,to Exhibit 5.1 to the Company?s RegistrationDv lznb>(<}jF !"#$%&'()*+,./0123456789:;<=>? / 'Statement (Registration No. 333140367)!!0!(on Form SB2 filed on January 31, 2007)."""#333333$@#/#'Amended and Restated Agreement and Plan$$1$)of Merger among Tamborine Holdings, Inc.,%%.%&SES Acquisition Corporation, Synthesis&&2&*Energy Holdings, Inc. and the shareholders''0'(of Synthesis Energy Holdings, Inc. dated((0((April 4, 2005 (incorporated by reference))1))to Exhibit 10.1 to Amendment No. 1 to the**6*.Company?s Registration Statement (Registration++7+/No. 333140367) on Form SB2 filed on March 30,,,~
,^.ffffff$@.3.+First Amendment to the Amended and Restated//1/)Agreement and Plan of Merger by and among0010)the Company, SES Acquisition Corporation,1101(Synthesis Energy Holdings, Inc., and the2212)shareholders listed on the signature page3353thereto dated December 29, 2006 (incorporated4454by reference to Exhibit 10.2 to the Company?s55,5$Registration Statement (Registration66961No. 333140367) on Form SB2 filed on January 31,77~
7^888
910.3*9.9&Amended and Restated License Agreement::0:(by and between Synthesis Energy Systems,;;/;'Inc. and Gas Technology Institute dated<<<August 31, 2006.===>$@>>%Cooperative Joint Venture Contract of??4?,SES (Zaozhuang) New Gas Company Ltd. betweenD3liE]w*_;LbtN*D@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_@@0@(Shandong Hai Hua Coal ? Chemical CompanyAA6A.Ltd. and Synthesis Energy Systems Investments,BB0B(Inc. dated July 6, 2006 (incorporated byCC2C*reference to Exhibit 10.4 to the Company?sDD,D$Registration Statement (RegistrationEE9E1No. 333140367) on Form SB2 filed on January 31,FF~
F^GGGH%@H.H&Amendment to Cooperative Joint VentureII3I+Contract of SES (Zaozhuang) New Gas CompanyJJ5JLtd. between Shandong Hai Hua Coal ? ChemicalKK1K)Company Ltd. and Synthesis Energy SystemsLL0L(Investments, Inc. dated November 8, 2006MMM%(incorporated by reference to ExhibitNN4N,10.5 to the Company?s Registration StatementOOO%(Registration No. 333140367) on FormPP(P SB2 filed on January 31, 2007).QQQ
R10.6*R/R'Contract for Synthesis Gas Purchase andSS2S*Sales by and between Shandong Hai Hua CoalTT4T,? Chemical Company Ltd. and Synthesis EnergyUU0U(Systems (Zaozhuang) New Gas Company Ltd.VVVdated October 22, 2006.WWW
X10.7?X0X(Employment Agreement between the CompanyYY<Y4and Timothy E. Vail dated May 30, 2006 (incorporatedZZ1Z)by reference to Exhibit 10.7 to Amendment[[5[No. 2 to the Company?s Registration Statement\\2\*(Registration No. 333140367) on Form SB2]]!]filed on March 30, 2007).^^^
_10.8?_1_)Amendment to Employment Agreement betweenDSlb+BXv2p u$.`abcdefghijklmnopqrstuvw``:`2the Company and Timothy E. Vail dated November 15,aa7a/2006 (incorporated by reference to Exhibit 10.8bb/b'to the Company?s Registration Statementcc2c*(Registration No. 333140367) on Form SB2dd#dfiled on January 31, 2007).eee
f10.9?f0f(Employment Agreement between the Companygg.g&and David Eichinger dated May 30, 2006hh2h*(incorporated by reference to Exhibit 10.9ii/i'to the Company?s Registration Statementjj2j*(Registration No. 333140367) on Form SB2kk#kfiled on January 31, 2007).lllm10.10 ?m1m)Amended and Restated Employment Agreementnn1n)between the Company and Donald P. Bunnelloo6o.dated July 14, 2006 (incorporated by referencepp6p.to Exhibit 10.10 to the Company?s Registrationqq/q'Statement (Registration No. 333140367)rr0r(on Form SB2 filed on January 31, 2007).st$u____________________________1v)Created by Morningstar Document Research.0w(http://documentresearch.morningstar.com/4W[
r'v"1Z=PF0*8X>
@wwvvuu
l jm
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }y
}$ }I;
j
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Index to Exhibits. 10.11? 0 (Consulting Agreement between the Company
/
'and Lorenzo Lamadrid dated May 30, 20063+(incorporated by reference to Exhibit 10.11/'to the Company?s Registration Statement
2
*(Registration No. 333140367) on Form SB2#filed on January 31, 2007).10.12?0(Amended and Restated 2005 Incentive Plan3+(incorporated by reference to Exhibit 10.1380to Amendment No. 3 to the Company?s Registration/'Statement (Registration No. 333140367)+#on Form SB2 filed on May 1, 2007).10.13?3+Form of Nonstatutory Stock Option Agreement6.(four year vesting) (incorporated by reference6.to Exhibit 10.13 to the Company?s Registration/'Statement (Registration No. 333140367)0(on Form SB2 filed on January 31, 2007).10.14?3+Form of Nonstatutory Stock Option Agreement6.(five year vesting) (incorporated by reference6.to Exhibit 10.14 to the Company?s Registration/'Statement (Registration No. 333140367)D lznb>RzVaVgP !"#$%&'()*+,./0123456789:;<=>? 0 (on Form SB2 filed on January 31, 2007).!!!"L$@"3"+Shareholder?s Loan Agreement by and between###%Synthesis Energy Systems Investments,$$5$Inc. and Synthesis Energy Systems (Zaozhuang)%%7%/dated March 20, 2007 (incorporated by reference&&2&*to Exhibit 10.15 to Amendment No. 2 to the''6'.Company?s Registration Statement (Registration((7(/No. 333140367) on Form SB2 filed on March 30,))~
)^***+RQ$@+4+,Fixed Assets Loan Contract between Synthesis,,2,*Energy Systems (Zaozhuang) New Gas Company/'Ltd. and Industrial and Commercial Bank..3.+of China dated March 27, 2007 (incorporated//2/*by reference to Exhibit 10.16 to Amendment0050No. 2 to the Company?s Registration Statement1121*(Registration No. 333140367) on Form SB222!2filed on March 30, 2007).3334ףp=
W$@414)Amended and Restated Commitment Agreement5535+dated November 30, 2006 between the Company66961and Union Charter Capital VII, Inc. (incorporated7767.by reference to Exhibit 10.15 to the Company?s88,8$Registration Statement (Registration99991No. 333140367) on Form SB2 filed on January 31,::~
:^;;;<\(\$@<<%Second Amendment to Cooperative Joint==/='Venture Contract of SES (Zaozhuang) New>>.>&Gas Company Ltd., between Shandong Hai??6?.Hua Coal ? Chemical Company Ltd. and SynthesisDal;N[5m"42
@iihhgg
l {1
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }U}$ }$4
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Index to Exhibits.
*
0
(Filed herewith. Portions of this exhibit/'have been omitted pursuant to a request%for confidential treatment filed with
.
&the Securities and Exchange Commission2*and this exhibit has been filed separately3+with the Securities and Exchange Commission( in connection with such request.
**Filed herewith. ?0(Management contract or compensatory planor arrangement$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@Dznb>2Qj&h6*=PF0*8X>
@
l F
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }I }$ }$}$ }I"}$ }<(}$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007NO TITLE TEN COM ? as tenants in common $ UNIF GIFT MIN ACT Custodian,
TEN ENT ?$as tenants by the entireties(Cust) (Minor)JT TEN ?#as joint tenants with right
"
of survivorship and not astenants in common)!under Uniform Gifts to Minors Act(State)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,xl\j9=PF0*8X>
@
l \
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }I;}$ }y
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007NO TITLE 4
#,(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS,
(# INCLUDING ZIP CODE, OF ASSIGNEE)
Shares91 of the common stock represented by the within.&Certificate, and do hereby irrevocablyconstitute and appointAttorney6. to transfer the said stock on the books of.&the withinnamed Corporation with full.&power of substitution in the premises.
Dated$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/DlxlH
@
l Bq
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }I;
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/20076.ARTICLE 3. CONFIDENTIAL DISCLOSURE AND NONUSE(a)1)was in the public domain prior to receipt 0 (under this Agreement or which thereafter
1
)becomes part of the public domain through1)no fault or breach of duty to maintain itconfidential by SES; or
(b)1)SES can show was in its possession at the0(time of receipt under this Agreement; or(c)1)SES receives from a third party which was2*not under an obligation of confidentiality91or nonuse to GTI, either directly or indirectly.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6j^RF91qv=PF0*8X>
@
l CLa
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSUNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }=
C
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/20072*ARTICLE 7. REPRESENTATIONS AND WARRANTIES.(a)2*GTI is aware of the provisions of Rule 144 / 'promulgated under the Securities Act of
.
&1933 (?Rule 144?) which permit limited3+resale of securities purchased in a private3+placement (a) by nonaffiliates of a company
;
3not less than two (2) years after such nonaffiliate/'has purchased and paid for the security6.to be sold, or (b) subject to the satisfaction.&of certain conditions, including among/'other things, the existence of a public3+market for the securities, the availability%of certain current public information0(about SES, the resale occurring not less/'than one (1) years after the securities4,to be sold have been purchased and paid for,5the resale being effected through a ?broker?s0(transaction? or in transactions directly2*with a ?market maker? (as provided by Rule1)144(f)) and the number of securities sold7/during any three (3) month period not exceeding4,specified limitations. SES has no obligation.&to supply the information required forsales under Rule 144.D@lnbVJ@'rjf
UC !"#$%&'()*+,./0123456789:;<=>? (b) 8 0GTI is acquiring the Common Stock for investment!!!1!)for its own account and not with the view"""1")to, or for resale in connection with, any###,#$distribution thereof. It understands$$$6$.that the Common Stock have not been registered%%%8%0under the Act by reason of a specified exemption&&&/&'from the registration provisions of the'''0'(Act, which requires, among other things,(((4(,the bona fide nature of the GTI?s investment)))#)intent as expressed herein.*++(c)+6+.GTI is authorized and otherwise duly qualified,,,0,(to acquire and hold the Common Stock and2*has not been formed or reorganized for the...0.(specific purpose of acquiring the Common////Stock.011(d)131+GTI believes it is an ?accredited investor?22202((as defined in Section 501 of Regulation33303(D under the Securities Act of 1933), but44434+if it is not an ?accredited investor?, then55545,it is by virtue of its business or financial66606(experience or its relationship to SES or777/7'SES?s management, capable of evaluating88808(the merits and risks of an investment in99929*the Common Stock and the GTI is capable of:::0:(protecting its own interest with respect;;;2;*to its investment in the Common Stock, and<<<2<*is financially capable of bearing the risk====of that investment.>?DClD9*wdlaVLU@AB$@____________________________1A)Created by Morningstar Document Research.0B(http://documentresearch.morningstar.com/
(=PF0*8X>
@BBAA@@
l N
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND W 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }8
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007NO TITLE(a)0(approval of the Feasibility Study of the / 'Project by the Relevant State Agencies;
(b)7/approval of the Environmental Impact Assessment3+report of the Project by the Relevant State
Agencies;(c).&approval of the joint venture contract2*and articles of association of the Company+#by the Relevant State Agencies; and(d)1)approval of the land required for project4,construction by the Relevant State Agencies.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8xlLS>=PF0*8X>
@
l !"
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6)1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }:
!
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction
3.1.1/'Design the Plant, procure equipment for  %the Plant, and supervise construction
of the Plant;
3.1.25Be responsible for the production, operation,
0
(maintenance and management of the Plant;
3.1.37/Perform its obligations hereunder in accordance0(with the Annual Synthesis Gas Generation80Plan and Maintenance Plan prepared in accordance80with Sections 3.3.2 and 3.3.3 (respectively) and/'coordinate its operations, planned shut0(downs and maintenance with the Hai Hua?s6.operations, planned shut downs and maintenance3+so as to minimize interruptions to Hai Hua,0(and to minimise the effects of unplannedshut downs;
3.1.4.&Recruit and retain qualified staff and0(workers to perform Plant operations; and$____________________________1)Created by Morningstar Document Research.D lymaUg[1yjY_SG 0 (http://documentresearch.morningstar.com/H=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }:
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction
3.2.14,Pay the Capacity Fee and Energy Fee pursuant & to the terms of this Contract;
3.2.2/'Provide at the Plant?s boundary, piping/'for the Plant?s acceptance of steam and
7
/coke oven gas from Hai Hua and for the delivery$of synthesis gas to Hai Hua;
3.2.3.&Provide the Input Commodities and coal80storage facilities as described in Section 4.1.5of this Contract; and
3.2.4/'Coordinate its operations, planned shut.&downs and maintenance with the Plant?s7/operations, planned shut downs and maintenance,1)so as to ensure that Hai Hua purchases as/'much synthesis gas as possible from theCompany.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BXymaU><0u0$rc+=PF0*8X>
@
l @
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }y<
@
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction
3.3.1,$Preparation of preliminary synthesis 6 .gas usage plan : To ensure efficient operation
1
)of the Plant, Hai Hua shall prepare, by 15October of each Year, a preliminary synthesis5gas usage plan for the following Year stating
1
)the expected synthesis gas (in Ncum/hour)/'requirements of Hai Hua. Each synthesis3+gas usage plan shall describe in reasonable.&detail Hai Hua?s expected requirements91for each month of the following Year, operational5changes at Hai Hua which may affect Hai Hua?s.&requirements, and expected maintenanceand outages; and2*In respect of the first Year of Commercial.&Operation, a preliminary synthesis gas0(usage plan in respect of that Year shall3+be prepared by Hai Hua and submitted to the6.Company at least 40 days before the Commercial( Operation Date of this Contract.4,In any event Hai Hua shall not in any of its.&synthesis gas usage plans require less,$than 19,000 Ncum/hour of Net Syngas.D
lymaUE2*lpg Q !"#$%&'()*+,./0123456789:;<=>? !
!3.3.2!.!&Annual Synthesis Gas Generation Plan :"""1")By no later than 1 November of each Year,###.#&the Company shall prepare and finalise$$$0$(the Annual Synthesis Gas Generation Plan%%%4%,and shall set out the anticipated generation&&&5&of the Plant (broken down on a monthly basis)'''0'(for the following Year, and shall submit(((0((such plans to Hai Hua. The Company shall)))0)(make its best efforts to ensure that its***4*,Annual Synthesis Gas Generation plan matches+++++#Hai Hua?s synthesis gas usage plan.,2*In respect of the first Year of Commercial...6..Operation, the Annual Synthesis Gas Generation///7//Plan in respect of that Year shall be submitted00030+to Hai Hua within 30 days of the receipt of11111)Hai Hua?s first synthesis gas usage plan.23
33.3.3363.Maintenance Plan : Hai Hua shall, by 1 October44424*of each Year, prepare the Maintenance Plan55555(which shall set out the maintenance schedule66606(and all scheduled outages of the Hai Hua77717)facilities) for the following Year, which888:82shall be submitted to the Company. The Maintenance99909(Plan shall include equipment maintenance::::and repair plan.;<$=____________________________1>)Created by Morningstar Document Research.0?(http://documentresearch.morningstar.com/Dl@6)u"^K?%tznb:=PF0*8X>
@??>>==
l IV ( +
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }=
I
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction
4.1.16.The Company shall be responsible for procuring 4 ,coal, power, water and all other consumables
5
except for the Input Commodities. The Company/'shall be entitled to recover such costs%(including transportation costs where
.
&applicable) through payment by Hai Hua3+of the Energy Fee outlined in Appendix III.4,Hai Hua shall offer to sell low quality coal/'to the Company on the basis the Company0(shall have the right of first refusal to/'purchase low quality coal from Hai Hua./'For the avoidance of doubt, the Company/'shall have the right to decide the type4,and quality of coal to be purchased and used0(in the Plant to produce synthesis gas in3+accordance with Appendix II, and the actual1)costs of the coal shall have no effect on;3the Energy Fee calculated pursuant to Appendix III,3+except to the extent Energy Fee is adjustedunder Appendix III.
4.1.2/'During the twelve (12) months after the0(Commercial Operation Date, any time that/'Hai Hua requires synthesis gas, Hai HuaD4lymaU97)z#pdcW !"#$%&'()*+,./0123456789:;<=>? 3 +shall deliver coke and coke oven gas to the!!!/!'Company free of charge, at the Delivery"""5"Point. If during the first twelve (12) months###/#'after the Commercial Operation Date the$$$0$(Company?s usage of coke oven gas exceeds%%%0%(100,000 Ncum, then the Company shall pay&&&9&1Hai Hua for any amounts of coke oven gas consumed'''7'/above 100,000Ncum, as outlined in Appendix III.(((1()If during the first twelve (12) after the)))/)'Commercial Operation Date the Company?s***0*(usage of coke exceeds 600 tons, then the+++1+)Company shall pay Hai Hua for any amounts,,,4,,of coke consumed above 600 tons, as outlined/'in Appendix III. After the first twelve....%(12) months of commercial operations,///8/0the Company shall pay for such Input Commodities000$0as outlined in Appendix III.12
24.1.3222*The Company is unable to produce synthesis33333+gas for Hai Hua if Hai Hua does not deliver44444,the Input Commodities to the Company. During55565.such period(s) when the Plant is not producing66616)synthesis gas due to Hai Hua?s failure to777;73deliver Input Commodities under this Section 4.1.3,88818)the Plant shall be deemed to be available99929*to produce synthesis gas at the Guaranteed:::/:'Capacity, Hai Hua shall not be relieved;;;0;(from its payment obligations as outlined<<<3<+in Section 6 and the Capacity Fee shall not===4=,be affected in any way by this non delivery.>?
?4.1.4?9?1Within 30 days of the execution of this Contract,D2
lNB*z"ma O<&w@ABCDEFGH@@@5@the Parties shall meet to agree on a suitableAAA1A)Delivery Point for the Input Commodities,BBB7B/and such Delivery Point shall be at the Plant?sCCCC boundary.DE$F____________________________1G)Created by Morningstar Document Research.0H(http://documentresearch.morningstar.com/Jr=PF0*8X>
@HHGGFF
l WD Q Z
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }>
W
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction
4.1.5Coal Storage Facilities
2
*by 1 January 2007, Hai Hua shall set aside2*approximately 10 mu of cleared land on its1)site that the Company will use to build a
5
covered coal storage facility for the Project.&(?Coal Storage Facility?), as outlined"in the map in Appendix VI.2*Hai Hua shall provide all necessary access7/and rights of way to the Coal Storage Facility.4,During the Term of Operations, Hai Hua shall5allow the Company to control the Coal Storage%Facility site and to install boundary0(fencing, draining systems, guard houses,/'warehouses and other service buildings,.&storage and assembly yards, and obtain2*any permits necessary for the installation2*and safe and efficient use of Coal Storage1)Facility. The Coal Storage Facility shall0(be under the sole control of the Company1)who may operate it with its own personnel7/and who may make improvements and modifications6.to it, including without limitation a conveyorD
lymaU I=.u qg] !"#$%&'()*+,./0123456789:;<=>? system.!"
"4.1.6"2"*Input Commodities (Coke and Coke Oven Gas)#$$$2$*Input commodities in the form of coke oven%%%7%/gas shall be provided by Hai Hua to the Company&&&0&(for startup of the Plant?s gasifier and'''3'+shall be of the same quality as the gas Hai(((2(*Hua provides to the city gas loop. Hai Hua)))7)/shall also provide coke oven gas to the Company***.*&for its coal drying system. Other than+++4+,the free coke oven gas to be provided by Hai,,,0,(Hua as outlined under Section 4.1.2, the2*Company shall pay for the coke oven gas at...+.#the price outlined in Appendix III./00030+Input commodities in the form of Coke shall11121*be provided by Hai Hua to the Company as a22222*secondary startup of fuel for the Plant?s33323*gasifiers and shall be of the same quality44454as the coke Hai Hua provides to its customers55565.and shall be provided by Hai Hua at the sizing66606(specified by the Company. Within 60 days77727*of execution of this Contract, the Company888<84shall provide Hai Hua with the sizing specifications99919)for such coke. Other than free coke to be:::<:4provided by Hai Hua as outlined under Section 4.1.2,;;;1;)the Company shall pay for the coke at the<<<'<price outlined in Appendix III.=>>>1>)In addition to the Input Commodities, Hai???1?)Hua shall make its best efforts to supplyDsl^RA{#vj[F0s@ABCDEFGHIJKLMNOPQRSTUV@@@0@(the Company steam not exceeding ten (10)AAA/A'tonnes/hour for startup of the Plant?sBBB0B(gasifiers and paid for by the Company atCCC/C'the price outlined in Appendix III. HaiDDD1D)Hua shall provide steam at 0.7 MPa(g) andEEE6E.at 260 degrees C. If Hai Hua has made its bestFFF3F+efforts but is unable to meet all the steamGGG1G)requirements of the Company for startup,HHH2H*this shall not be construed as Hai Hua notIII2I*providing Input Commodities to the CompanyJJJ)J!in accordance with this Contract.KL
L4.1.7L/L'The Parties agree, the value of variousMMM6M.items to be provided by Hai Hua to the CompanyNNN0N(shall not exceed five (5) percent of theOOO0O(final registered capital of the Company.PPP/P'These items include but are not limitedQQQQto:RS$T____________________________1U)Created by Morningstar Document Research.0V(http://documentresearch.morningstar.com/2CQI72&le2&=PF0*8X>
@VVUUTT
l )ls nv
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }@
)
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction
4.2.11)The Company shall make reasonable efforts 2 *to keep synthesis gas supply interruptions
9
1to a minimum and whenever reasonably practicable,=5provide Hai Hua with notice prior to an interruption.6.The Company?s only liability for interruptions
4
,in synthesis gas supply (including a failure0(to supply gas when requested by Hai Hua)2*shall be the reduction of the Capacity Fee#as outlined in Appendix IV.
4.2.291So long as Hai Hua delivers the Input Commodities/'to the Delivery Point the Company shall1)produce synthesis gas, in accordance with3+the specifications outlined in Appendix II,1)and deliver such synthesis gas to Hai Hua0(at the Delivery Point. The Company shall/'produce and shall deliver to Hai Hua up3+to 22,000 Ncum/hour of Net Syngas. The ash,6.sulfur and other byproducts that are produced2*from the conversion of coal into synthesis4,gas (including the proceeds of sale thereof)%shall be the property of the Company.
4.2.391The Company is entitled to sell at its discretionDlymaU
@((''&&
l (! @
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }U}$ }I;
(
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction333333@Effect of Force Majeure
2
*In the event of the occurrence of an event/'of Force Majeure, the Party affected by2*the Force Majeure event (?Affected Party?)
0
(shall notify the other Party immediately/'and shall provide formal notice thereof/'in writing within 15 days together with/'documents providing sufficient evidence2*of the cause of the event, and an estimate1)of (1) the downtime period and/or (2) the0(reduction in Hai Hua?s ability to supply.&the Input Commodities or the Company?s0(ability to produce synthesis gas, as the4,case may be. The Affected Party?s obligation5to perform its obligations shall be suspended4,for the duration of the actual delay arising0(directly out of the Force Majeure event.2*The Parties shall immediately meet to find4,a fair solution and shall make all practical91and possible efforts to mitigate the consequences&of the event of Force Majeure.D
lymaUKB:3"nbK !"#$%&' @ Definitions!""""In this Contract:#$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/rfZ2=PF0*8X>
@''&&%%
l G+ z
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }U}$ }>
G
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Constructionffffff@.&Construction of the Plant: The Company / 'shall be responsible for the financing,
0
(design and construction of the Plant and7/the procurement, installation and commissioning/'of equipment therein. The Company shall
4
,make all reasonable efforts to begin initial/'syngas production by June/July 2007 and6.enter Commercial Operation in August/September~
^@3+Coordination in Respect of the Construction7/of the Plant : The Company shall be responsible3+for the construction of the Plant and shall/'assume all costs and risks with respect)!to the construction of the Plant.333333@%Construction Coordinating Committee :/'Immediately following execution of this%Contract, the Parties shall establish/'the construction coordinating committee4,(the ? Construction Coordinating Committee ?%comprising two (2) representatives of.&the Company and two (2) representative.&of Hai Hua. Such representatives shallD
lymaUJ8QE*vog !"#$%&'()*+,./0123456789:;<=>? 6 .determine by consensus the venue and frequency!!!7!/of their meetings, as well as other formalities"""8"0such as the keeping of minutes and communication###"#among the representatives.$%%@%2%*Coordination of Testing and Commissioning:&&&5&The Parties shall coordinate the construction'''/''of the interfaces between the Plant and(((2(*the Hai Hua Plant, and the carrying out of))).)&commissioning and testing of the Plant****%through the Construction Coordinating+++5+Committee. The objective of such coordination,,,<,4shall be to minimise any delays to the commissioning0(and testing of the Plant and the Parties.....&shall use reasonable efforts to ensure/////'that each of them supplies and/or takes00000(receipt of utilities (in the case of Hai111.1&Hua taking synthesis gas and supplying222.2&the Input Commodities) in such amounts33373/and at such times as may be reasonably required44424*by the other Party for the purpose of such55505(commissioning and testing subject to the666/6'payment of charges as set forth in this7777 Contract.899@969.Supply of Water and Power during Construction::::1:)During the construction of the Plant, Hai;;;7;/Hua shall supply power and water to the Company<<</<'and the Company shall reimburse Hai Hua===7=/for the actual cost of power and water consumed>>>1>)by the Company. Hai Hua shall invoice the???1?)Company on a monthly basis for such costsD
lCyt[VKB @+@ABCDEF@@@0@(and the Company shall pay Hai Hua withinAAA4A,14 days after issuance of Hai Hua?s invoice.BC$D____________________________1E)Created by Morningstar Document Research.0F(http://documentresearch.morningstar.com/xL@4=PF0*8X>
@FFEEDD
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction
Energy Fee
# Ncum of Net Syngas
Capacity Payment
# Ncum of Net SyngasTotal Syngas Fee# Ncum of Net Syngas$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2ymaU
;/#w=PF0*8X>
@
l X D
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }U}$ }y<
X
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction0(The Capacity Fee shall be escalated over 4 ,the Contract Term as outlined in Appendix IV
8
0and the Energy Fee shall be adjusted as outlined0(in Appendix III. However, if the Parties80have agreed to make adjustments to the synthesis
3
+gas prices in accordance with Appendix VII,2*the Parties shall adopt the newly adjustedprices.333333@+#Testing/Commissioning Synthesis Gas0(Price: Prior to the Commercial Operation4,Date of the Plant, the Company shall produce1)synthesis gas as part of its start up and%commissioning work. Provided that the2*quality of synthesis gas produced complies0(with Appendix II, the Company may at any.&time prior to the Commercial Operation3+Date, by notice in writing from the Company3+to Hai Hua, supply synthesis gas to Hai Hua2*in such amounts and in such periods as may1)be specified in such notices. During this,$precommercial operation period, Hai4,Hua shall pay 50% of the Capacity Fee to the+#Company and 100% of the Energy Fee.DlymaUA.8+$se !"#$%&'()*+,./0123456789:;<=>? !!@!.!&Excess Amounts: If the Company?s first"""5"phase is able to produce Net Syngas in excess###0#(of 22,000 Ncum an hour, then the Company$$$6$.shall offer to sell to Hai Hua all such excess%%%:%2synthesis gas, at the rates set out in Appendix V.&'''2'*If Hai Hua does not exercise that right to(((.(&purchase the excess synthesis gas, the)))3)+Company may sell such additional quantities***2**to a third party, provided such additional+++2+*synthesis gas shall not be sold at a price,,,4,,lower than the prevailing price of synthesisgas sold to Hai Hua..//@/1/)As outlined in Section 4.1.3 above, after0000%the Commercial Operation Date, if Hai11121*Hua does not provide the Input Commodities22212)to the Project, then the Company shall be33303(unable to produce synthesis gas, but Hai444/4'Hua shall still be obligated to pay the5555
Capacity Fee.677ffffff@707(Unless the Plant is affected by an event88858of Force Majeure, provided that the synthesis999:92gas meets the quality requirements of Appendix II,:::0:(the responsibility of Hai Hua to pay the;;;1;)Capacity Fee, as outlined in Appendix IV,<<<2<*shall not be affected by any circumstances===(= whatsoever and howsoever caused.>??@?0?(Financing Guarantee : Upon the executionDl;#gXMEYM0%@ABCDEFGHIJKLMNOPQRSTUVW@@@4@,of this Contract and after SES? contributionAAA/A'of 15 percent of its registered capitalBBB3B+to the Company, if the Company applies withCCC4C,a bank, in a single or in multiple tranches,DDD4D,for medium to longterm loans (not exceedingEEE4E,ten (10) years) and not exceeding 60 percentFFF2F*of the Company?s total investment, if suchGGG.G&bank requires a corporate guarantee toHHH5Hsecure such loan(s), Hai Hua shall be obligedIII0I(to provide a corporate guarantee to suchJJJ4J,bank in such form and to such extent as suchKKK2K*bank may require for the Company to secureLLL2L*such loan(s). However, Hai Hua?s guaranteeMMMM%shall not contain restrictive clausesNNN2N*on Hai Hua?s operations, funds management,OOO2O*etc. that are additional to those normallyPPP.P&required for corporate guarantees. TheQQQ/Q'Company shall provide such cooperationRRRRand provide suchST$U____________________________1V)Created by Morningstar Document Research.0W(http://documentresearch.morningstar.com/4 M:.yi`
sg[3=PF0*8X>
@WWVVUU
l "
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }U}$ }I;
"
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction7/information and assistance as may be reasonably 1 )required by the bank. The Company may, at
4
,its discretion, agree to grant such security1)to the bank as may be reasonable in order6.to secure the loan, provided any such security
2
*shall be subordinate to any other security1)that the Company has granted or may grant91to its other financiers, banks and/or Affiliates.5The Company shall provide a counterguarantee5of equal value to Hai Hua which is acceptableto the bank.4,If the Company can not obtain such financing2*based on Hai Hua?s guarantee in accordance3+with the above paragraph, the Company shall/'have the option to choose other sources%of financing for project construction0(in order to continue the performance its( obligations under this Contract.333333@Payment Method$____________________________D
lymaUA0vtc_ !1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X>
@!!
l Z)
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$}$ }U5
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction~
"Late Payment
2
*Should either Party fail to pay any sum as2*it falls due, it shall pay, in addition to4,such sum, interest on such sum from the date
0
(payable until the date of actual payment at a rate of 0.1% a day.~
&Setoff, Taxes, Etc.0(Each Party shall pay all sums payable to0(the other Party in full and shall, under%no circumstances, make any deduction,,$setoff or withholding of any nature.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:ymaU#{+^Rq)=PF0*8X>
@
l 2>
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ } }$ }8
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction333333$@Installation
1
)Before the Scheduled Commercial Operation0(Date, the Company shall install metering1)equipment at the Delivery Points in order
2
*to measure the amount of Input Commodities7/supplied by Hai Hua and synthesis gas delivered6.by the Company to Hai Hua and such meter shall/'be checked by the Relevant State Agency
for accuracy.ffffff$@Accuracy$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6ymaUVDRF=PF0*8X>
@
l U
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }6The Company shall, in the presence of a representative 7 /of Hai Hua and a representative of the Relevant
1
)State Agency, calibrate the meters, bring0(the margin of error of each component of1)each meter to 0.2% or less than 0.2%, and
have the meters sealed.10.2.22*Calibration of the meters shall be carried5out once every six months or at any time when.&a Party disputes the accuracy thereof.10.2.30(The Company shall be responsible for all4,expenses incurred in any tests of the meters6.and any recalibration (including replacement,.&reparation and adjustment) in order to,$maintain the accuracy of the meters.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>0ymaU19pTL@4=PF0*8X>
@
l j
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ } }$ }U5
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction$@
Meter Reading
0
(After the Commercial Operation Date, Hai2*Hua and the Company shall jointly read the.&meters in accordance with a preagreed
schedule./'A representative of each Party shall be0(present at the readings scheduled by the1)Parties and shall sign their names on the0(reading statement. Should either Party?s/'representative be absent at a scheduled4,reading, then the readings made by the other/'Party shall be deemed true and correct.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:vymaUTb
YOC7=PF0*8X>
@
l g~
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ } }$ }8
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction333333&@Term of Operation
4
,This Contract shall expire twenty (20) years7/after the first day of the Commercial Operation
Date.
ffffff&@"Termination by the Company/'The Company may terminate this Contractif:$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2UymaUGS =PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }:
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction11.2.180Hai Hua fails to pay any amounts due and payable 1 )hereunder within 30 days after it becomes
/
'payable (except where Hai Hua?s failure2*to pay is caused by the Company?s material1)breach of any of the Project Documents or
/
'by the Company?s failure to pay amounts4,due hereunder in full and in a timely manner1)in accordance with the provisions of this
Contract);11.2.21)Hai Hua becomes insolvent or is dissolvedor restructured;11.2.31)Hai Hua fails to perform any of its other'material obligations hereunder,$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<ymaU?5F:0=PF0*8X>
@
l %
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }6
%
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction11.3.13+The Company fails to pay Hai Hua any amount 0 (due and payable hereunder within 30 days
0
(after it becomes due and payable (except0(where Company?s failure to pay is caused2*by Hai Hua?s material breach of any of the
1
)Project Documents or by Hai Hua?s failure2*to pay for synthesis gas to the Company in1)full and in a timely manner in accordance.&with the provisions of this Contract).11.3.2!The Company is dissolved;11.3.35The Company fails to perform any of its other%material obligations hereunder, which1)(unless it is incapable of remedy) is not1)remedied within 30 days of written notice/'from Hai Hua specifying the default and5requiring the Company to remedy such default.2*If the default is not remedied within that1)30 day period, Hai Hua may terminate this3+Contract by serving a further 30 day notice2*of termination on the Company. Termination2*becomes effective on expiry of that secondnotice.D
lymaUD90$f_QC !"#$ !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/
P=PF0*8X>
@$$##""
l <
i
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ } }$ }8
<
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction&@%Other Grounds for Termination
0
(Either Party may terminate this Contract/'on 30 days? written notice to the other4,Party: if an event of Force Majeure prevents
/
'the Plant from generating any synthesis0(gas for a continuous period of 360 days,7/and the Board has decided it is not technically1)or commercially feasible to continue withthis Contract.'@!Liability for Termination1)If this Contract is terminated in advance2*due to a material default by either Party,0(then the breaching Party shall be liable2*to the nonbreaching Party for all damages0(and in accordance with relevant PRC law.333333'@General5Termination of this Contract (for any reason).&shall not affect the accrued rights ofthe Parties.D lymaUG
@;;::99
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ } }$ }$4
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction333333(@
Governing Law
3
+This Contract shall be governed by the laws.&of the PRC and construed in accordance
therewith.
ffffff(@Disputes$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,hymaUU=PF0*8X>
@
l /
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }I;
/
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction(a)80any arbitration shall be conducted in accordance 1 )with the CIETAC Arbitration Rules and the
*
"provisions of this Section 12.2.2;(b)2*Either Party may refer a dispute to CIETAC

%for arbitration regardless of whether/'or not it has exercised its termination&rights under Section 11 above.(c).&the arbitration tribunal shall consist.&of three arbitrators, one appointed by1)the Company, one by Hai Hua and the third0(arbitrator (the ?Presiding Arbitrator? )3+appointed by agreement between the Parties,80or, if the Parties cannot agree, by the Chairman
of CIETAC;(d)2*no arbitrator may be (i) a national of the1)PRC or of the United States of America or2*(ii) a permanent resident of the Hong Kong.&Special Administrative Region or Macau/'Special Administrative Region or Taiwan3+Province and if either of the Parties fails0(to appoint an arbitrator within the timeDy
lymaUG;2)xwg !"#$%&'()*+,. 9 1specified in Article 16 of the CIETAC Arbitration!!!0!(Rules, the Chairman of CIETAC shall make"""2"*such appointment taking into consideration###7#/the criteria set out in this Section 12.2.2(c);$%%(e)%3%+the Presiding Arbitrator (and any successor&&&0&(or replacement appointed in place of any'''1')Presiding Arbitrator initially appointed)(((3(+shall be a national of one of the following))))
countries:*+$,____________________________1)Created by Morningstar Document Research.0.(http://documentresearch.morningstar.com/"G$s=PF0*8X>
@..,,
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }U}$ }
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction~
Australia
~
Belgium~
The Philippines
~
The Netherlands~
Sweden~
Switzerland~
India~
New Zealand$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<ymaU;/k_"
=PF0*8X>
@
l k)
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }2
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction2*and, the Chairman of CIETAC shall make the / 'appointment of the Presiding Arbitrator
.
&taking into consideration the criteria0(set out in Section 12.2.2(c) and in thisSection 12.2.2(d);
(f)1)the place of arbitration shall be Beijing.&and the arbitration shall be conducted%in the English and Chinese languages;(g)the Parties undertake:$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4=ymaUNLL@4=PF0*8X>
@
l !>
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }>
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction(i)/'agrees that any arbitral award shall be final and binding;
(ii)3+undertakes that it will execute and perform3+the arbitral award fully and without delay;
(iii)5waives any right which it may have to contest1)the validity of the arbitration agreement<4set forth in this Section 12.2.2 or the jurisdiction:2of CIETAC to hear and to determine any arbitration.&begun pursuant to this Section 12.2.2;$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4yymaUN,f=PF0*8X>
@
l *WZ
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }U}$ }7
*
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction1)During the Term of Operation, the Company 1 )shall defend, indemnify and hold harmless
3
+Hai Hua from and against any claims, costs,2*losses, liabilities, taxes, suits, damages4,or expenses it may suffer as a result of any
4
,default, negligence or breach of obligations/'by the Company committed hereunder. If,2*in the operation of the Plant, the Company2*causes Hai Hua to incur any claims, losses3+and expenses under any Existing Regulations0(or Future Regulations, the Company shall/'defend, indemnify and hold harmless HaiHua against the same.3+During the Term of Operation, Hai Hua shall/'defend, indemnify and hold harmless the3+Company from and against any claims, costs,2*losses, liabilities, taxes, suits, damages4,or expenses it may suffer as a result of any4,default, negligence or breach of obligations2*by Hai Hua committed hereunder. If, in the6.operation of the Hai Hua Plant, Hai Hua causes/'the Company to incur any claims, losses3+and expenses under any Existing RegulationsD9lymaUH6+x!ui
W !"#$%&'() 4 ,or Future Regulations, Hai Hua shall defend,!!!/!'indemnify and hold harmless the Company""""against the same.#$~
$:$$ Insurance%&$'____________________________1()Created by Morningstar Document Research.0)(http://documentresearch.morningstar.com/M=PF0*8X>
@))((''
l n
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ } }$ }y<
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction333333,@Company to Insure
/
'The Company shall take out and maintain/'insurances as are required by the Board%in connection with the Plant.
ffffff,@Assistance with Claims:2Hai Hua shall provide the Company with information0(it may require to make or process claimsunder its insurances.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4ymaUTAd=PF0*8X>
@
l ԁ
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ } }$ }7
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction333333.@Entire Agreement
6
.This Contract constitutes the entire agreement/'between the Parties with respect to the1)subject matter hereof and shall supersede
,
$all prior agreements of the Parties.ffffff.@Amendment and Waiver$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.ymaUNK?3=PF0*8X>
@
l E
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ } }$ }8
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction.@ No Agency
2
*Neither Party shall have the right to bind3+the other, enter into contracts in the name1)of the other or incur liabilities for the
/
'other for any purpose or in any manner..@Communications/'Notices or other communication required2*to be given by any Party shall be given by5registered mail or facsimile to the following7/addresses or such other addresses as designated)!by the Parties from time to time:$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/::ymaU
UUI;sK=PF0*8X>
@
l $
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }6
$
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction To: , $Synthesis Energy Systems (Zaozhuang)
New Gas Company LtdAddress:'To be provided to Hai Hua later
Fax:'To be provided to Hai Hua laterWith a copy to:2*Synthesis Energy Systems, Inc., Attention:
Huang DaliAddress:5526 Pine City, 777 Zhaojiabang Road, Shanghai
200031, ChinaFax:(86) 02164220869To:0(Shandong Hai Hua Coal ? Chemical CompanyLtd5Address: 68 Linquan Road, Xue Cheng District,!Zao Zhuang City, ShandongProvince, PostCode: 277000Fax:(86) 06344461691D^
lymaUg+6@vg !"# $!____________________________1")Created by Morningstar Document Research.0#(http://documentresearch.morningstar.com/<=PF0*8X>
@##""!!
l 5
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ } }$ }6
5
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction/@Language
2
*This Contract shall be executed in Chinese3+and English. Both versions have equal legaleffect.
333333/@
Assignment2*Without prior written consent of the other%Party, neither Party shall assign its3+rights and obligations under this Contract,0(provided that the Company may assign its1)rights to lenders or guarantors providing4,finance or finance guarantees to the Company0((?Lenders?) in connection with the Plant1)without Hai Hua?s consent being required,/'so long as the Company provides written1)notice to Hai Hua of such assignment. Any2*such assignment shall not affect Hai Hua?s#rights under this Contract.5Hai Hua may assign its rights to an affiliate0(so long as the Company agrees in writingto such assignment.D lymaUVmeXOA !"#$%&'()*+,./01234 !!!1!)Any assignments under this Contract shall"""5"not affect the Parties obligations hereunder.#$$ffffff/@$$Partial Invalidity%&&&4&,If a provision in this Contract is or become''''%illegal, invalid, or unenforceable in(((/('any jurisdiction, that shall not affect)))0)(the legality, validity or enforceability***4*,and other jurisdictions of that or any other+++.+&provision whatsoever of this Contract.,/@1)Confidentiality and Intellectual Property.///%/During the Term of Operation:01$2____________________________13)Created by Morningstar Document Research.04(http://documentresearch.morningstar.com/.E>2~"aU=PF0*8X>
@443322
l Hc
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }y<
H
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction15.8.35the Parties are hereby authorised to disclose  %any confidential information obtained
6
.from each other to their respective Affiliates%and professional advisers, subject to7/procuring that such Affiliates and professional
2
*advisers observe a duty of confidentialityas provided herein;15.8.40(? confidential information ? as referred1)to in this Section 15.8 shall include all2*information and data disclosed (regardless1)of whether such information is in writing2*or otherwise, or whether provided directly91or indirectly) by the Parties or their Affiliates2*to the other Party or its Affiliates prior0(or after the execution of this Contract,0(including but not limited to information4,related to their products, plan, proprietary%technology, design rights, commercial0(secrets, confidential market information91and any information relating to their businesses.0(However, this Section shall not apply to0((a) any information in the public domain2*otherwise than by breach of this Contract;DAlymaU?1+xcWI !"#$%&'()*+,./0123456789:;<=>? 0 ((b) information in the possession of the!!!7!/receiving party before divulgence as aforesaid,"""7"/and which was not obtained under any obligation###4#,of confidentiality; (c) information obtained$$$1$)from a third party who is free to divulge%%%1%)the same, and which is not obtained under&&&.&&any obligation of confidentiality; and'''4',(d) and information required to be disclosed(((2(*by applicable law, a judicial order or the))))%rules of a recognised stock exchange.*++15.8.5+1+)The Parties acknowledge that the U.S. Gas,,,1,)Technology Institute (?GTI?) owns certain0(patents, knowhow, information and trade....%secrets (the ?Intellectual Property?)///2/*relating to GTI?s gasification technology,00060.which is confidential and that GTI has granted11121*Synthesis Energy Systems, Inc an exclusive222/2'right to such GTI technology, including33303(any improvements and know how, in China,44424*and the Company has the legal right to use55575/such technology and there will be no additional66626*fees for the use of such technology beyond777/7'the Capacity and Energy Fees under this88808(Contract. All such Intellectual Property99939+shall remain the sole property of Synthesis:::/:'Energy Systems, Inc and (if applicable);;;4;,GTI and no license or grant of rights in any<<<5<of the Intellectual Property will be conveyed===/='by Synthesis Energy Systems, Inc to Hai>>>:>2Hua or any of its affiliated or related companies.???8?0Hai Hua and its affiliated and related companiesD}
lI5*{o_
RI6,y@ABCDEFG@@@/@'shall not compete with Synthesis EnergyAAA6A.Systems, Inc with respect to such IntellectualBBBB Property.CD$E____________________________1F)Created by Morningstar Document Research.0G(http://documentresearch.morningstar.com/7K=PF0*8X>
@GGFFEE
l #y
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }}$ }$4
#
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction15.9.10(it is a legal entity validly established / 'and existing under the laws of the PRC;
15.9.20(it has power and authority to enter into.&and perform its obligations under this
Contract;15.9.3/'the entering into of and performance of0(its obligations under this Contract will3+not breach any law or any contract to whichit is a party;15.9.4/'all necessary Consents for the entering2*into of and performance of its obligations/'under this Contract have been obtained;and15.9.5/'its obligations under this Contract are'valid, binding and enforceable..&The Company represents and warrants toHai Hua as follows:DlymaU6>MA3H< !"$ ____________________________1!)Created by Morningstar Document Research.0"(http://documentresearch.morningstar.com/
(=PF0*8X>
@""!!
l (
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }I }$ }$4
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction15.9.60(it is a legal entity validly established / 'and existing under the laws of the PRC;
15.9.70(it has power and authority to enter into.&and perform its obligations under this
Contract;15.9.8/'the entering into of and performance of0(its obligations under this Contract will3+not breach any law or any contract to whichit is a party;15.9.9/'all necessary Consents for the entering2*into of and performance of its obligations/'under this Contract have been obtained;and15.9.10/'its obligations under this Contract are'valid, binding and enforceable.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/DlymaU6>MA3G;/=PF0*8X>
@
l !n@@
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }y<
!
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007'1. Definitions and Construction15.10 Assistance
5
Hai Hua agrees to cooperate with and provide1)assistance to the Company, in such manner3+as may be required by the Company to enable
1
)the Company to obtain and utilise credit,2*financing or other financial accommodation&or facilities for the Project.1)In particular, upon the Company?s request2*Hai Hua agrees to enter into, with such of:2the Company?s Lenders referred to in Section 15.6,1)a Direct Agreement on such form as may be%agreed between the Company?s Lenders,5the Company and Hai Hua. The Direct Agreement6.shall as a minimum (and amongst other matters)3+allow the Company?s Lenders or some of them2*the right to ?step in? in relation to this1)Contract in the event Hai Hua purports to terminate this Contract.$____________________________1)Created by Morningstar Document Research.D lymaU9wi\L6;/# 0 (http://documentresearch.morningstar.com/H=PF0*8X>
@"
l [
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }}$ }
}$ }
}
$ } }$ } }$ } }$ } }$ }U}&$ }'' }(*$ }++ },.$ }//$}02$ }33}44$
5555555555 5
555
5555$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Net Syngas Contents
!"#$%&'()*+,./01234
! " # $ % & ' ( ) *Pressure  .Temperature 1 2Volume
Gas Components
H 2
CO
CO 2
CH 4
N 2
Ar
O 2
H 2 S
!
"COS
%
&H 2 O
)
*MPa(G)

.?C
1
2Ncum/hNet Syngas (delivery)\(G@ףp=
E@
=
ףp=@
Q?RQ?
ףp=
?~
20mg/m 3!"
200 mg/m 3%&')\(@()*+{Gz?,.~
/012~
3W4
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@ymak_S+=PF0*8X>
@444 "$
"$
&(
*,
.0
24 *, .0 24
l 7RsA{
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas Contents
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }$}$ }@
7
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Net Syngas Contents~
0 (The Company has the obligation to ensure
6
.the quality of the synthesis gas in accordance80with the parameters outlined in this Appendix II2*and Hai Hua shall have the right to reject
8
0any synthesis gas that it is able to demonstrate1)to the Company does not meet such qualityspecifications.~
1)The Net Syngas shall contain no less than89% CO, H2 and CH4.~
91CO shall not exceed 43.5%. of the total synthesisgas volume .~
7/CO 2 in the Net Syngas shall be no higher than
4%~
=5H 2 S in the Net Syngas shall not exceed 20mg/m 3 .~
5The Company shall make all reasonable efforts2*to ensure that presence of organic sulfur,0(nitrogen, argon and other trace elements/'(including but not limited to COS, HCN,Dlyma=IZ'2{og !"#$%&'()*+,./0123456 7 /NH3, Hg, HCL, F) are kept to a minimum in order!!7!/not to affect the quality of Methanol Company?s"""methanol production.#~
$$,$$Notwithstanding any other provisions%%8%0herein, if the Company fails to supply synthesis&&1&)gas in accordance with the specifications''1')outlined in Appendix II, in circumstances((9(1where Hai Hua has delivered the Input Commodities)).)&in accordance with the specifications,**4*,quality or sizing outlined in Section 4.1.6,++4+,the Company shall not in any event be liable,,4,,for the loss of use of any plant or facility4,operated by Hai Hua, for any loss of profit,..2.*loss of any indirect or consequential loss//3/+or damage which may be suffered by Hai Hua,00/0'save for direct losses caused by damage111%to Hai Hua?s machinery and equipment.23$4____________________________15)Created by Morningstar Document Research.06(http://documentresearch.morningstar.com/2Z"x+?Ob=PF0*8X>
@665544
l m
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }0}$ }
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Table III1
Design Basis Coal
RMB #/ton (?D 0 ?)
Coke
RMB #/ton (?B 0 ?)
Coke Oven GasRMB # Ncum (?C 0 ?)
PowerRMB #/MWh (?E 0 ?)
SteamRMB #/ton (?S 0 ?) Tap WaterRMB #/ton (?T 0 ?)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/DluiE9A5)A5)=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1A Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }}$ }a/}$ }
}$ }} $ }
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Design Basis Coal:
?Allowed Variation?
from Design Basis
Variable NameTest Result
Units
Coal~
LHV~
29kCal/kg
3,611 kCal/kg
(analyzed net)
minimum
No maximum
~
Ash, wt% (dry basis)QD@weight %
42.5% maximum No minimum
~
/'Total Moisture % (surface and inherent)~
*weight %
? 10%
~
"Sulfur content (dry basis)Q?weight %
1.8 maximum
~
"Carbon content (dry basis)(\B<@weight %
28% minimum$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<xznbG%_WaUI!=PF0*8X>
@"
l u
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }I }$ }I }$ }I }$ }I }$ }I } $ }
I }$ }I }
$ }I }$ }I }$ }I
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007A. Capacity Fee
Year 1 Year 2 Year 3 Year 4 Year 5
Year 6 Year 7
Year 8 Year 9 Year 10
#
#
#
#
#
#
#
#
#
#
Year 11Year 12Year 13Year 14Year 15
Year 16Year 17
Year 18Year 19Year 20
# # # # #
# #
# # #$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/, }qe`rdzR=PF0*8X>
@
l &
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity Fee Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }}$ }:
&
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007A. Capacity Fee(I)3+if Hai Hua does not deliver adequate or any 8 0Input Commodities, or delivers Input Commodities
5
which are NOT in compliance with the Contract80specifications (i.e. outside the specifications,3+quality or sizing outlined in Clause 4.1.6,
3
+to the Plant (including outages or downtime3+suffered due to damage to the Plant, caused1)by such noncompliant Input Commodities),(II)7/In the circumstances set out in Sections 4.1.2,4.1.3,
(III)5A Planned Outage, as defined in Section 3.3.5(IV)3+if Hai Hua demands less than the Guaranteed0(Capacity of Net Syngas from the Company,(V)/'the time period required by the Company6.to startup the Plant or to step up production80after a period when Hai Hua demands no synthesis1)gas (or less than 18,000 Ncum/hour of Net6.Syngas) or a period where Hai Hua has demanded0(less than the Guaranteed Capacity of Net1)Syngas from the Company and then requiresDr l}qen}SGF:F !"#$% 8 0the Plant to produce at the Guaranteed Capacity.!"$#____________________________1$)Created by Morningstar Document Research.0%(http://documentresearch.morningstar.com/udl=PF0*8X>
@%%$$##
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }a}$ }$}$ }
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007 Example 1 Plant Availability =  %30 days x 24 hours x 22,000 Ncum/hour

%30 days x 24 hours x 22,000 Ncum/hour =+#100% Plant Availability (a total of
*
"15,840,000 out of 15,840,000 Ncum)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hwk/Z`TH =PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1Excess QuantitiesExcess Quantiti (1)Further CooperationFurther Coopera (1)U }a}$ }$}$ }0.
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007 Example 3 Plant Availability =  %10 days x 24 hours x 22,000 Ncum/hour

%30 days x 24 hours x 22,000 Ncum/hour =.&33% Availability (a total of 5,280,000
out of 15,840,000 Ncum)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hwk/Zh\P(=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess Quantiti (1)Further CooperationFurther Coopera (1)U }$ }$}$ }8
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Excess Quantities ?7/For volumes between 22,000 to 24,000 Ncum/hour, 3 +Hai Hua shall pay 100% of the corresponding
1
)Energy Fee and pay a prorated proportion2*of the Capacity Fee but reduced by 20% for1)the additional 2,000 Ncum/hour of volume;
?7/For volumes between 24,000 to 29,000 Ncum/hour,3+Hai Hua shall pay 100% of the corresponding0(Energy Fee and a prorated proportion of3+the Capacity Fee but reduced by 25% for the%additional 5,000 Ncum/hour of volume;and ?.&For volumes over 29,000 Ncum/hour, Hai2*Hua shall pay 100% of the Energy Fee and a0(prorated proportion of the Capacity Fee5but reduced by 40% for the additional volume,$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@D{ocO0}"7(=PF0*8X>
@
l !1
1
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesFurther CooperationFurther Coopera (1)U }$ }:
!
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Excess Quantities.&In addition to the discounted Capacity 5 Fee that applies only to volumes above 22,000
8
0Ncum of Net Syngas, Hai Hua shall also reimburse3+the Company for its additional coal, power,.&water costs, etc. associated with such
2
*increased synthesis gas production through6.the Energy Fee associated with such additional!synthesis gas production.1)For the avoidance of doubt, the discounts2*listed in this Appendix V shall only apply0(to the Capacity Fee for quantities above"22,000 Ncum of Net Syngas.7/As an example, if during a month (with 30 days)6.during the first year of operation the Company2*has available and Hai Hua agrees to accept1)29,000 Ncum/hour of synthesis gas for the1)whole of that month, the Capacity Fee forthat month would be$____________________________1)Created by Morningstar Document Research.Dl{oct%;Wn4 0 (http://documentresearch.morningstar.com/H=PF0*8X>
@
l H
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further Coopera (1)U }$ }$}$ }I;
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Further Cooperation ?3+Hai Hua should develop the coke gas market, 9 1and gradually reduce its own coke gas consumption
.
&so that Hai Hua?s methanol subsidiary,%the Shandong Xuejiao Chemical Co. Ltd0((the ?Methanol Company?) will eventually
0
(use only syngas for methanol production; ?5The Company should develop its gas production5process so as to produce syngas of sufficient/'pressure and purity for direct methanol4,production, and expand its syngas production5capacity so as to meet the Methanol Company?stotal gas demand; and ?/'The Parties should cooperate to develop%the most economical syngas production/'system to achieve a winwin outcome forthe Parties;$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/B4 XymaNI=+r!t=PF0*8X>
@
l PRa
cl
q
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??t!CALCULATION OF REGISTRATION FEEBeneficial OwnershipThe Offering!Our common stock is subject to !The market valuation of our busThe market valuation of (1)Market OpportunityPLAN OF OPERATIONSPLAN OF OPERATI (1)PLAN OF OPERATI (2)SELLING STOCKHOLDERSSELLING STOCKHO (1)SELLING STOCKHO (2)SELLING STOCKHO (3)SELLING STOCKHO (4)
NO TITLENO TITLE (1)PLAN OF DISTRIBUTIONPLAN OF DISTRIB (1)Beneficial Owne (1)Beneficial Owne (2)NO TITLE (2)Summary CompensationNO TITLE (3)Outstanding Equity AwardsDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!MARKET FOR COMMON EQUITY AND REINDEX TO FINANCIAL STATEMENTS
Balance SheetIncome StatementShareholders Equity
Cash Flows!Consolidated Statements of Cash!Note 3 151 Prepaid expenses and!Note 4 151 Property plant and e Note 4 151 Property plant (1)!Note 6 150 Accrued expenses andNote 6 150 Accrued (1)Provision for income taxes!Deferred tax assets liabilitiesLease commitmentsLicense agreement!Note 11 150 Accounting for stocNote 11 150 Accounting (1)Balance Sheet (1)!Condensed Consolidated Balance Condensed Consolidated (1)!Unaudited Condensed ConsolidateUnaudited Condensed (1)!Note 2 151 Joint Venture in Chi!Effect of Adopting SFAS No 123R!Prior Period Pro Forma Presenta
AssumptionsAssumptions (1)Assumptions (2)Assumptions (3)Assumptions (4)Delaware Law!Item 25 Other Expenses of IssuaItem 27 Index to ExhibitsItem 27 Index to (1)Item 27 Index to (2)Index to ExhibitsIndex to Exhibi (1)Index to Exhibi (2)NO TITLE (4)NO TITLE (5)!ARTICLE 3 CONFIDENTIAL DISCLOSU!ARTICLE 7 REPRESENTATIONS AND WNO TITLE (6) 1 Definitions and Construction1 Definitions and (1)1 Definitions and (2)1 Definitions and (3)1 Definitions and (4)1 Definitions and (5)1 Definitions and (6)1 Definitions and (7)1 Definitions and (8)1 Definitions and (9)1 Definitions and (10)1 Definitions and (11)1 Definitions and (12)1 Definitions and (13)1 Definitions and (14)1 Definitions and (15)1 Definitions and (16)1 Definitions and (17)1 Definitions and (18)1 Definitions and (19)1 Definitions and (20)1 Definitions and (21)1 Definitions and (22)1 Definitions and (23)1 Definitions and (24)1 Definitions and (25)1 Definitions and (26)1 Definitions and (27)1 Definitions and (28)1 Definitions and (29)1 Definitions and (30)1 Definitions and (31)1 Definitions and (32)1 Definitions and (33)Net Syngas ContentsNet Syngas Cont (1)
Table III1Design Basis CoalA Capacity FeeA Capacity Fee (1) Example 1 Example 3Excess QuantitiesExcess Quantiti (1)Further CooperationU }}$ }8
P
$SYNTHESIS ENERGY SYSTEMS INCSB2/A
05/23/2007Further Cooperation
i.5At any time within two (2) years of execution 1 )of this Contract, Hai Hua may request the
/
'Company to expand its syngas production0(which will be of sufficient pressure and5purity for the direct production of methanol,
/
'to be supplied directly to the Methanol/'Company, and the Parties shall agree on0(the necessary technical reform plans and1)negotiate the requisite project documents4,within three (3) months of Hai Hua?s request)!for additional syngas quantities;ii.%The Methanol Company shall contribute5certain equipment necessary for such expanded.&syngas production to the Company. Such.&equipment includes, but is not limited0(to the Methanol Company?s air separation6.unit, fine sulphur removal system, compression/'equipment and other relevant equipment./'In consideration of the contribution of2*such equipment, the Methanol Company shall6.be given an ownership interest in the Company.7/The value of such equipment should be evaluated2*by independent asset evaluation companies.D
lymav*CZ l":V !"#$%&'()*+,./0123456789:;<=>? !iii.!3!+The Methanol Company shall actively develop""/"'a second phase 100,000 methanol project##3#+and the Company will supply syngas for such$$0$(expansion. The Company intends to supply%%3%+the total syngas required for such methanol&&6&.expansion whereby the gas quality and pressure''5'of the syngas supplied meets the requirements((.(&for the direct production of methanol;)))and*+,iv.,4,,Upon Hai Hua?s request for additional syngas5as outlined above, the Parties will negotiate..5.in good faith the requisite project documents//2/*and renegotiate a new syngas price for the0030+new syngas system. Such syngas price should1131+not be higher than the syngas price in this22/2'Contract of RMB #/Ncum of syngas (after3323*deducting the cost of additional operating44.4&costs and equipment cost necessary for5545,producing syngas that is suitable for direct66/6'methanol production). The Company shall7707(make best efforts to produce syngas of a88/8'sufficient pressure and quality that is99 9satisfactory to Hai Hua.:;
<v.<0<(If the Parties can not come to agreement==5=upon the above plans, within three (3) months>>4>,of Hai Hua making its request for additional??4?,syngas supply, then the Parties shall inviteD
lVlXL@K_,JW@ABCDEFGHIJKLMNO@@1@)a mediator, such mediator to be agreed byAA1A)the Parties, to assist the Parties to tryBB/B'to reach definitive agreements based onCC5Cthe above principles. Before such arbitrationDD6D.begins, each Party shall deposit RMB 3,000,000EE5Ein an escrow account. If during the mediationFF/F'the Mediator makes a determination thatGG4G,any Party is not acting in good faith to tryHH1H)and reach an agreement, the mediator may,II0I(in its sole discretion, award damages toJJ/J'the other party of up to RMB 3,000,000.KL$M____________________________1N)Created by Morningstar Document Research.0O(http://documentresearch.morningstar.com/$A,fx'?h=PF0*8X>
@OONNMM
Root Entry FBook
mr
!"#$%&'()*+,./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{}~
!"#$%&'()*+,./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{}~
!"#$%&'()*+,./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{}~
!"#$%&'()*+,./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{}~
!"#$%&'()*+,./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{}~
!"#$%&'()*+,./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{}~
!"#$%&'()*+,./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{}~