Ann: Proposed issue of securities - 4DS, page-20

If Lodge's work secures an SP of $1.20, that is a 3 million dollar profit to them - that is a good win for a professional services company - especially if there is a cash payment for an agreed scope of services within the terms of engagement, which ensures the company's labour costs and overheads are covered.

The company also provides the following services.



The Research panel is the other capability that was interest to me - if a TO offer is made that the board deems too low - there will typically be a research paper published that backs up their position - that is where Lodge could come in and make these options work for them. They could also be engaged just to produce a research paper and announce it to the ASX.

I think the company is now getting very serious about a material transaction and ensuring the SP is as high as possible before/if that eventuates.