Ann: Response to ASX Aware Letter, page-20

the gist is that the revenues are based on business estimates and are just that. get out clauses are business standard for contracts which i can endorse - as long as you keep the trail and BUD does - its Business As Usual

BUD at 21.5c (and even at 40c) to me was never priced for $69m in 3 year - it was priced for ~$22.7m ~3 years with optimism for upside

interesting to see avg chargeout rate is now $us1500+ a system - assume that reflects those new components and the increase in demand for more components per base. that in turn implies increase in traction and satisfaction with existing installs

glad to see they are referring to 'systems' rather than 'units'. much clearer

still something there for both optimists and pessimists to argue about still id say. pessismists wanted earnings guidance and arent getting it.

optimists happy to trust in strength of demand for serious distribution/exclusive rights/re-seller agreements as indication of genuine demand.

the 47 install requests in one day certainly is evocative. but still a goblin hole until april and really until july in terms of underlying earnings

rizon confidence on installs was also pretty noteworthy