Ann: Video Conference Annual General Meeting, page-24

Just got back from agm. Not sure how much was muted and when you guys who tuned in could start hearing.

Toby sounds very confident in the FAA approval and 737 AMOCs being achieved by end of this year. In fact he back pedaled as he sounded perhaps too bullish at first and rephrased himself afterwards.'

The revenue model is still what seems to be up in the air, but as we have all known for a long time, SMN runs on the smell of an oil rag when compared to the vast savings by airlines with less downtime... so there are still a few options when it comes to revenue model and all of which provide massive revenue to SMN and of course profits whichever path they head down.

Sikorsky MOU - Toby said in the next few weeks we will get an update on this and that it is something we will all be very happy with.

Toby and Mike will be heading to Sydney, Melbourne and Perth over the next few weeks and have planned/and are open to more discussions with brokers and investors. In the 2.5 years I have held SMN I do not recall them doing this... Funding the journey was just a simple matter of Drake taking more stock (often at market price or close to) - nice and easy, pain free. This Australian travel, I would imagine they are not going to be coming and doing all of this just to rehash what we already know and have done for a long time now, I get the impression there will be more to discuss by that stage and there is more reason for the journey than just repeating the same old...