Reply from FBR. We can’t route bricks.

Finally a reply, im guessing Kiel does scan HotCopper and wanted to clarify. Pretty disgusted the company didn’t disclose this officially a hell of a lot earlier to be honest, but now we know.


Sean

Performance shares were not issued as a result of Factory Acceptance Testing. They were issued for completion of the A Milestone, which was set out in the prospectus issued before the company listed. The performance condition for the A Milestone is as follows: “Upon successful demonstration of the Company’s robotic home building technology as proven by the construction of a Full Home Structure within 3 days from commencement of construction by the Company’s robotic home building technology on the site (A Milestone), each Class A Performance Share will convert into a Share on a one for one basis.” Factory Acceptance Testing was performed in the lead up to building a Full Home Structure and involved building three smaller structures (an F structure, a pillar structure to cap height and a two room structure). Completion of Factory Acceptance Testing had no impact on our capital structure. Routing blocks was not part of the performance condition for the A Milestone. In any event, routing of blocks is not necessary for our current building programs, because the current blocks are designed in such a way that the cores align. Routing blocks is certainly not a major integral part of the operation of the machine. The router may be incorporated into the testing program at a later date as we experiment with different blocks and house designs.


Kind regards,




Kiel Chivers Director of Communications and Corporate Affairs