Ann: Notification regarding unquoted securities - TVN, page-14

The company simply is not worth the market cap it is right now. The project is in its infancy stages (Bought off another failed company) who attempted to do the same thing.

The cash burn given the large board for a company far far from production is high. The cash on hand is very low. Credit is on hand yes, but that is a token venture at trying to reduce dilution now when the SP is low. Avoiding the reality.

A $40 mill MC for a junior wannabe with a solid board is not exactly a poultry MC in its own right. Just seems low because Tivan is coming down from a much higher MC which dates back to the previous project.

As reality continues to set in where Tivan is at it will get sold into until it reaches a much fairer value. Which IMO is still much lower than this.