Ann: Final Director's Interest Notice - Walley, page-17

Missing targets simply doesn’t stand out to be, except in mature companies with mature markets. At the speculative or immature end of things everyone makes wild ones and generally misses big - just the real world reigning in the dreams a bit. Better to listen to the story critically and take the projections with a large bucket of salt.

Imho when a company is growing steadily at 15% pa, then forecasts 18% and achieves 16% there is likely reason to be quite critical. If however a company is coming from nothing and forecasts a 50 fold increase, yet only achieves 20 that is not so bad, esp if it will likely get to the 50 the next year, AND provided it is funded. Those are the companies I will most likely make my money in. At that level of business maturity I am more interested in how the technology and the business model is maturing, and how the path to CF positive is looking.

I am no fan of crowd funding for these type of companies, or of crowd funding per see. But if the crowd funding valuation was far too high and the recent one (from big professional investors) about right, then one of your previous assertions about no value having been created because the valuation hadn’t increased would unwind. I actually think that it is in the recent round that investors got a bargain - courtesy of PVL transgressions.

I am no fan of the Fast 50. When I see companies on the Fast 50 I generally make a mental note to look for the future Liquidation. A bit of a haystack in which to look for the next Invert?

You are clearly of a disposition that Invert is bad because PVL is bad. Nothing I say will change that, therefore at this stage in the absence of news I am not going to say anything more wrt Invert Robotics.

EL