Performance, page-10

Hi Desco,

Assuming the receipt of +$20 million in licencing fees over the next 3 years, it stands to reason that we could see +$20m reported during the final year of those performance rights alone. Apply a conservative P/E ratio of 30, and your 40 cent target is already in the bag.

If the company reports revenue earnings of +$20m during the 2017 financial year you can bet your bottom dollar that it will be closer to +double that figure by FY2018, and your 40 cent target now becomes a distant memory.

Moreover, the picture from analysts at Baker Young looks even brighter, and much closer to my own personal expectations;



Let's assume for a moment that the performance shares were incentivized based on your preferences;

You and I can then walk away satisfied with our return after selling out upon the 'performance based' targets being hit, and what re-assurance is then offered to the new owners of our shares?

Targets directly aligned to the long term sustainable royalty streams are not only going to serve in the best interests of the company, but will also serve in the best interests of all current and future long term holders of this company.