Ann: General Meeting 28-Jun-23 Voting Results, page-14

You're just proving my point that I was an optimistic early investor as the tech looked good and the deals seemed lucrative... Lucky I sold it on the way down after this at an average of 17c, taking a 15-25% loss on a decent position. A lesson for anyone is to continue to add or reduce to your position as conviction and risk/return calculations change over quarters.

Prudent investment requires constant monitoring of the Board and continually revisiting conviction of one's position in light of the macros. Investing in penny stocks will always include a few losses but it's about reducing the extent of those losses to perform very well in the long run.

In 2020-2021, chasing acquisitions was a respectable strategy IF a company maintained a strong shareprice. Unfortunately, the Board kept raising more money on the way down when the macros and investors were increasingly concerned and requesting a tightening of the belt. I mostly stayed quiet but continued to like HC posts by posters who were providing this feedback because whoever seemed to provide feedback (that in hindsight was correct) was egotistically responded to by the board/board proxys on HC instead of accepting they may have a point. It's quite sad how much shareholder value has evaporated for anyone who held on as this had alot of potential. The tech seemed relatively disruptive. A few quarters in to my hold as I continued to research this it was clear the Board were targetting revenue at all costs with little to no consideration for long term holders whilst not proving to new investors that their model would yield a profit anytime soon through the holy grail of organic growth.

Only a blind fool maintains the same conviction of their stocks while it continues to make many wrong decisions. No doubt if the macros were better NNG would've been in a much better place than this. I'm not emotional about it, I've made significant returns else where with much heavier weightings. I do genuinely hope this turns around, I would consider reinvesting again.