Ann: Application for quotation of securities - OVT, page-37

You're all asking why this? Let me give you a quick history as to patterns.

Prior to OVT being relisted on the ASX, they needed an additional $1M in the bank to satisfy the conditions - that's where the loan of $1M at 18% came in, along with options of convertible notes at 0.02. Even though they had been running the business for a year, iSentric and IDSB dividends were not enough to pay for all the expense.

Fast forward to June Quarterly and again, they had no money. Accountants would not sign off on the books unless they had more money in the accounts, so that is when the CR for $1.2M was done and Clee managed to do the whole thing himself (syaing no investors were interested) and got 300M shares at $0.004. Again, another quarter where iSentric and IDSB could not cover costs.

Now we have September quarterly due next week. My guess is they are short again, hence having to do this now. Who is going to get it? No idea, but can hazard a guess that Barclay Pearce may get involved. Why? Because when there was the internet blitz of the new CEO announcement, I also got one from Barclay Pearce. They don't spruik other stocks - only ones they have an interest in, so my suspicion is they will be one of the ones involved at this 0.004.

What does it mean moving forward? The first thing is obvious - they are not generating enough money from existing business to even pay their costs. Based on the $1.2M needed last quarter and now getting $1.8M, this should hold them through for another quarter and then they need more money just for existing business, along with the new CEO wage.

IDSB is the obvious one, but I don't see where you guys think this amount of money is going to rocket it into the BNPL space in USA. $40M Ringit was the valuation. As to the stolen funds, who know when that might eventuate. They have had court cases in progress since last year for recovering approx $7M. The rest of what was stolen hasn't even been taken to court yet, so I really wouldn;t count this in your estimates of the "war chest" that OVT is going to have.

Also, bear in mind, even without the stolen funds, the previous BOD weren't really kicking goals with it in Malaysia. This board specifically closed it down because they said it was a loss maker. Now they want to resurrect it and also go into USA?

I wish everyone well, but be prepared. This sort of stuff and more you will experience if you stay in as an investor. I wish you well. Personally I am out of this stock, though I do have an interest in the convertible notes, so I do hope something workds before April next year and the loan needs to be paid back.

Till then I will just be DT'ing it when they make the hype announcements and try and make some money back from my losses. I recouped a tidy sum from the craziness of this week. Feels better than holding in the rollercoaster ride that is OVT.