Ann: Amended Investor Presentation, page-85

OK. Point taken.

My eyes are locked on the ball only but inclined to comment on your repeated $1.5M as a pass which quite frankly is not realistic.

I may come across as being bit lenient on recent history and lag in OHM take up but the way I look at is this :

- It's a new business promoting new product in a relatively new market so there are bound to be hiccups

- Sales channels/partners don't necessarily have the urgency that you may have as a company so it can drag for longer.

- As far as direct install goes, large enterprises don't just write a blank cheque no matter how appealing your product and business case is.  The trial phase on a site or two would be required for at least 3-6 months before they think of committing for larger pool of properties. 

So based on the above, the question I asked myself as an investor is this :

- Does these delays mean the product lost it's traction completely?  OR is it a temporary?

- Does it mean they won't be cash flow positive in 2019?

The answers to above are sounding NO as of today.

I personally don't care what share price would do in short term, yes we all want it to fly yesterday but real businesses have real issues and as long as Management is committed to fix them and continue to show good progress QoQ, I am OK to wait.

As they say in business,

Terrible Management and Terrific market = Market wins

Terrific Management and Terrible market = Market wins

Terrific Management and Terrific market = Something magical happens

At this stage, I believe BUD is in 3rd segment and I am OK to wait this one out for another 1-2 years as long as QoQ growth is satisfactory.