Ann: LIFX Trade Facility - IP & Tariffs Update, page-39

Every single finance facility has a bunch of STANDARD conditions that need to be satisfied before it can be drawn. I have never seen a finance announcement where the financial close is the same day as signing. The novation process needs to be completed for some customers so the draw downs can be secured against accounts receivable. THE IMPORTANT FACT is that both parties have signed and the rest is formalities. Until they draw they are not paying fees, and they have stated they currently do not need to draw. External parties trying to guess the daily workings of the company are irrelevant.

At 3.5c everyone is losing money. The past 18-24 months have been tough. Bud is not alone in this space of small/micro startups down >90% from their highs. Shareholder have been disappointed with over promising and under deliver with OHM. BUT the LIFX acquisition gave the company new life and a longer time line to get the energy monitoring business to be successful. The LIFX deal was struck at $144m market cap. Today we are $63m market cap. Shareholder had/have a choice, to sell out and move on with their lives, or hold on and give the management team a second chance.

For those of us that held on and are will to give DM enough time to prove his vision we wanted to see a change to the way things were reported. Overall I think we wanted to see less hype and more facts/numbers. The ASX listing rules are very restrictive with what must be said and what can not be said. Bud has every piece of news go through their lawyers and then through the ASX. If they suspect any irregularities ( as suggested by some people in this forum) they would not allow the announcement and be all over BUD.

With regards to BUD and Lifx, every piece of information received has been positive. IMO, the business is doing great. Even better than I had hoped. Recent news from bud.
(1) Saving on tariffs that were paid in previous years because the DM team investigated the tariff rules
(2) Trade finance put in place and extremely attractive rates.
(3) Launched into Asia, all apple stores in Japan.
(4) Partnership with Wattics from Ireland who have major contracts in place but see themselves needing OHMWW.
(5) Deal with UK energy provider, Fidelity.
(6) New products launched and patents continue to be granted.
(7) New switch announced which is A FULLY OPERATIONAL OHM. I think people missed this part!!! Each $100 switch is also an OHM for monitoring energy usage. Next step a GPO that is also an OHM.!! Here is the move to commercial industry that shareholders have been waiting for. The switches were meant to be a small test launch, but from what has been reported, all the customers want them. ( an unexpected source of extra revenues and profits)
(8) First move into health care monitoring and deal with Umps.

These are just a few of whats happening at the company that can be announced. The baby has really been thrown out with the bath water at this market cap!! With todays announcement, people can stop implying that the coy is going into admin and wait for the revenue numbers and profit resulting from the changes DM and his team have made. I am not up ramping, simply stating the current facts as they stand. IMHO, I believe the market will be pleasantly surprised when the profits are announce on 31 Jan 2020. ONLY 5 months away. Lots to happen between now and then.

as always DYOR and HOLDTIGHT.