Ann: Resignation of Darius Coveney, page-8

TBH iv read a few of your blogs which have been impressive and I do enjoy hearing the other side of the story as it helps to make a balanced decision so thank you. The content does seem to be focused solely on Batercard and their management/directors which in my mind becomes irrelevant as it is no longer apart of the company (INP) that I have a relevant intrest in. Definitely, I do look at the numbers and did learn the hard way not to trust previous management which is one of the reasons i sold my holding earlier this year. That said I'm buying back in now that Batercard is sold and old management have left as I believe financially the company is in A++ condition and very much undervalued.

As a deep value somewhat contrarian investor I try to work out the catalyst of why the share price is where it is before purchasing and with INP it comes down to two things for me:

- One, is sentiment what includes propaganda or opinion from spectators and old holders who perhaps are looking for something or someone to blame for a poor investment.

- Two, and the main one for me is the some 50 million shares in weak hands. Of the 50M about 25M are in the hands of the "smiles in suits" as you say, who I believe would no doubt not mind seeing the share price fall, but these will eventually run out.

These catalysts are out of the company's control and in my view the overselling of shares from weak hands will eventually dry up, the fundamentals of the company will be noticed, the downtrend will reverse and positive news will eventually come which will in turn change sentiment to positive.

So as a investor what I focus on differs greatly to yourself but it is nothing personal. I can see how much time you have focused to expose Bartercard and their associated directors and thank you for that as it is seems like you are doing it out of strong moral justice, but it no longer is relevant to the new Incentiapay business as we've sold it and are moving on with the newly restructures business.

IMO