Sydney Roadshow, page-143

Didn't know the rogue drone problem, so I just msg'ed Mike and Kiel on Linkedin to start looking at DroneShiel product to deny aerial entries of rogue drones.

Also, I was on the money of that $500m valuation wild guess !!!!!!

Below is another wild guess of mine following your thoughts:

JV with WBG, would simply be FBR putting in IP to manufacture HX(A) and WBG put in cash for working capital and inital pilot build out(A), which creates 50-50 equity (E), taking some loan up later on if required(L), key here is possibility that JV being set up for mass funding and mass manufacturing, but only after European pilot is a success and pass, then the potential IPO valuation of JV would be a monster, let's say €200m for example, which means A$320m, we are talking about 200 HX being made, and if they got to that point in 2020 (given HX already in working order, display is a pass), mass sacling would reach tipping point quickly, 200HX could become 2000HX shortly after, revenue would scale up much quicker than people expect.

Profit distributing would depend on how much equity was reduced due to JV listing（say 50% equity being offered to listing and owned by European shareholders, then 50(FBR,WBG)-50(JV shareholder) profit sharing, then 25% of profit goes to FBR shareholders (50% x 50%), we are talking about a quarter slice of a real cake here, but it's a big cake, and multiple cakes can be set up in multiple regions, what FBR then would be focusing on will be R&D and business developement, multiple project would come come on line, HX2.0, other DST applications.

Still no idea what the $5m is going to used for, should unveil as more news coming out, but if FIL is still tipping in that's a good sign for you and me.