Ann: Appendix 4C and Quarterly Update - June 2023, page-6

Ross moving to the US speaks volumes. This is a strong signal.

Ultimately, FAA timing is beyond their control and they've disclosed that there are now only minor changes required to the service bulletin:

"SMS Chief Technical Officer Trevor Lynch-Staunton P.Eng said ongoing testing has made favourable progress on the CIC issue with Boeing. The targeted solution requires no sensor system changes, only some minor changes to the Service Bulletin ahead of the anticipated FAA certification".

In the mean time, cash flow ok for now with a risk mitigation strategy in place:

"Further commercial exploitation of the Company’s technologies and products at amounts sufficient to meet proposed expenditure commitments: the entity is scheduled to hold its annual review during September with its bankers, Royal Bank of Canada and as a result of higher value attributed to inventory held, it is expected that funds available under the operating loan facility will increase significantly".

In any event, Ross won't want to raise while the SP is at these levels, so I'm pretty confident that SH's will be rewarded soon(ish).

GLTAH,

Powerage.