Fear, Uncertainty and Doubt, page-20

The board of ANO are some of the most ethical business people I have ever had the pleasure of knowing personally.

Lev is one of the strongest examples of Shareholder First Board Governance in a public company, perhaps in the world. He takes zero salary, shares or bonuses and does not get issued options in ANO. Instead, he buys on market. Millions of dollars. Loans the company money at zero interest. Supported every capital raising. Bought out other major shareholders off-market as required. I have NEVER come across any Board member that has operated in this manner before.

I have stood alongside him as he questioned the board of Collection House (CLH) and what was happening from a disclosure perspective over there. There were plenty of skeptics. Lev called a shareholder meeting to try to reveal the issues, giving shareholders plenty of warning that there were potential issues going on. The majority of shareholders did not agree with him so he sold his stake in the company and moved on. For those who listened to him - he did a great service - because the shareholders who did not listen to him are now stuck in a perpetual company suspension (nearly a year now!) and their investment in significant doubt. He saw what others could not - and would not stand for it.

Regarding the inventory matter, the board provided a very reasonable response to why this issue occurred and if you have ever run a business during a rapid growth stage, you would understand how easy this kind of thing would be to happen, especially when dealing with locations across multiple states like WA & QLD.