Ann: Appendix 4C and Quarterly Update, page-45

Gentlemen, I hope that description is accurate, you all miss the point.

My calculations are based on the potential of SMN when full FAA approval has been granted, contracts signed, several tier 1 airlines plus others having their fleets fully installed with sensors & having earnings of $85 million. If the P/E was 30 that would automatically calculate to a share price of over $18.00 with 135 million shares on issue. The last time I checked it was fewer than 135 million. On the other hand, a P/E of 20 would mean a share price of over $12.00.

ASX11, in answer to your question regarding SMN reaching a market cap of $2.5 billion, I believe if all of my requirements, listed above, were met then there is a distinct possibility of that occurring. If the $85 million earnings target was achieved the big variance would be what the P/E was at the time. If it was perceived that there was further growth with increased dividend potential a P/E of 30 would be possible.

I am simply outlining the potential of SMN in order that investors realise what is possible & do not sell out prematurely. My plan is to sell about 5% of my holding as the price approaches $6.00 & keep the remaining few hundred thousand for dividends.