Ann: Letter to Shareholders, page-7

Guys, I think if you saw that ASX letter today, and as I mentioned earlier, there was going to be some argy-bargy going on here. Communications, perhaps arrogance, and the left hand not telling the right hand can sometimes bring things, like this, seriously undone. The ASX want all serious answers. There were some comments in that report today that were not as focused as they should be in responding to a government organization. Same as Senate hearings. Companies must take these things seriously.

What will happen with BPG now it is in the hands of ASIC?

I think we will be in for an extended period of suspension AIMO. The Singapore High Court injunctions will need to be resolved; if Byte Power group have some influential people on their side then they may need some good legal eagles to make sure they handle this in a precise, careful and mature fashion over the next couple of months. In the meantime, they should still be putting their heads down and working to get this exchange finished to show ASIC/ASX they are serious, and perhaps also work with SOARlabs to get this all resolved.

Just some observations.

Will keep an eye on this over the coming weeks.

Cheers....59