Ann: Appendix 4E & Preliminary Final Financial Report, page-15

Been a holder since 5.6c after attending the OHM launch in March (Sydney).

BUD is one of the few stocks I am very excited about as the constantly surprise to the upside as far as their operations. I bought some more today at 20c and intend to buy some more if it drops below 20c. If that occurs it would have reached my maximum portfolio allocation for a business in early stage development.

Initially i thought it was a great trading opportunity with a 3-6 month outlook based on the fact they are operating in a space where there is a ton of hype. My initial assumptions proved correct and we have seen a great return in a short period.

I did not sell my shares as initially planned on account of how impressive the company's progress has been. Many stocks move on the promise of great things. The difference for me with BUD is they are actually signing contracts positive cash flow is not a pipe dream. Management is exceeding expectations on disclosure, governance, communication and results.

My outlook on this company is now one of a long term hold. My definition of that is a 2-3 year time period for a company of this size and at this stage of development. I reserve the right to change my views as pertinent information is released (nothing to do with the SP).

I look forward to more of the same from BUD in regards to material contracts being signed and relationships being built.