Ann: Appendix 4C - March 2017 Quarter, page-121

I probably agree with you mostly.

But shareholders who are expecting millions in revenue from royalties in FY17 are setting their expectations too high, I believe. OBJ is still in its infancy - it needs to walk before it can run, I think the crawling phase is almost over.

While this is not my best investment, it is one that I can see a large amount of potential growth in. I can understand the frustration of long-term holders who have seen announcements come and go, but I believe that the management are still working hard (and having success) in getting large companies to engage with OBJ to use the technology in their products.

I know there are alot who read this and roll their eyes, but I think that expectations are currently set high for OBJ. A market cap of $120m? Alot of optimism has been built into this price, so when a 4C comes out with little revenue, some are very disappointed. But, what figure would have made them happy and how realistic is that figure? And this is following on from a Market Update that really didn't tell us much.

So, for now I am fine with the direction and what is currently happening. For me it will be the full year result and the next 4C (and things that happen during this time) that will give me a better idea of whether I should continue to hold.