Ann: Letter to Shareholders - Upcoming EGM, page-128

I think it is very hard as a investor that has watched this company wipe potentially 70% off the value of their investment. I'm one of them, having watched it drop 60% of mine.

However I feel fully responsible for buying into a bag of hot wind. Kept buoyant from the companies unrelenting over optimism and methane from HC hype, for which I was complicent.

The fact is that if we bought into this company over the past 4years we were buying at a price that was based on pure optimism that this company would do the near impossible and go from being IP to a booming business. The fact is that the company is taking that path that 999/1000 take buy battling away to establish itself.

You always here the stories of successful investors learning from a costly mistake. I expect this will be many of our expensive lesson, definitely so if you jump ship now.

I also think that if I was not jaded I would be looking at this stock thinking it has spent 4years doing R&D and customer development. And now 4years later it is rock bottom at a point in time where it might actually grow into something.

I am seriously thinking about doubling down at these prices......