Chart, page-3347

Hi,

You seem to be suggesting that people who invested in the company due to "misconception" & “outlandish expectation” regarding near term MABR sales in China have only themselves to blame today for their disappointment and/or losses. Your comment was………….

“Failure 2): Slower uptake in China. Resolution: this is actually a common misconception that has been propagated across HC and the wider investment community. Yes, Emefcy undoubtedly made statements that Chinese partners would be making 10,000 unit orders (i.e. $100M); however, management never stated it would happen in 2017 - they didn't actually specify a year, for that matter. It was the general populous within the investment community who came to the outlandish expectation”

I have trouble agreeing with your view. A few extracts of actual company released asx ann’s are as follows. The only thing outlandish was the misleading company statements that caused sp run to around a dollar a few times and a lot of people burnt since.

Ann’s …………

Late 2016 I think…………

"Subject to the satisfactory performance of the demonstration plant, the parties anticipate signing a long term agreement whereby CGGC INV commits to purchase at least 10,000 MABR modules in the FIRST year"

Early 2017………

“CGGC INV and Emefcy are proposing to jointly bid on an initial 345 rural wastewater treatment plants of varying capacity from 50,000 litre/day to 200,000 litres/day in two key Districts in Hebei and expect to start deployment in first half 2017.”