GERNOT, page-94

Never bought at 2c and never made it out that I was buying at 2c (10x) - i have bought some above 1c but that was rare. My last three buys have been at 0.2c as pretty much cash value and with sentiment at all time low if something did happen and was semi decent I would think sentiment would change rather quickly. Before Cameron Adams joined sentiment was low and sentiment changed just on that, Chris has a good CV/track record so if he did something as before then sentiment will change but it seems the first one has proved more of a challenge with valuations of businesses on EBITDA ratios falling in tech space as MGG has previously announced which provides better buying for MGG.

Take the emotions out and would you rather pay 2M for what was a 2M house that is now worth 1.5M or 1M or go buy a 2.5/3M house that is now valued at 2M? I know which one I would prefer - I do agree the time taken is a little concerning but if values have kept dropping whilst going through DD and the owner doesn't want to sell at new valuation then is that MGG fault - i would be probably more upset paying more than what an asset is just because we want something now... It is easy to spend money as most people would sell their house for 2x if not 3x the market value but does that make it a good deal for MGG - no.

Like I said we all have the same options and if it is stressing you out then sell (not financial advice) but I don't control MGG in any capacity except as a SH so we all have the same options of buy/hold/sell and do what you feel is best.