Ann: Appendix 4C and Quarterly Activities Report, page-149

I was not expecting much revenue this quarter, did I secretly hope, of course I did. It is very frustrating.However, the world economy is not the greatest atm. I was listening to a report this morning that stated VW are going shut production plants and axe thousands of employees, in Germany, due to rising costs and the inability to compete with Chinese made vehicles. European economies are not doing so well due to the war in Ukraine, the huge immigration issue, the cost of energy, inflation and the list goes on. The US is also facing a few challenges of their own, the current election, BRICS, huge debt, supporting 2 wars. Industries across the globe are restructuring, facing tougher competition, not willing to invest in new ideas that maybe be seen as too risky. The truth is that there is too much uncertainty atm. No one knows where it is all leading to. While I’d like to rip Sean a new one, it is understandable that getting companies to commit atm is tough going. BRN are not selling a product that is necessary for the survival of mankind. They’re selling a unique product that can enhance, improve, assist, benefit but not vital for the survival of mankind. Of course it can reduce power usage, one shot learning, work on the edge, improve product efficiency but not necessary for the survival of mankind. That means that it is a tougher sell, especially when companies are looking at reducing costs and placing new products on the back burner. We’re all waiting for that big announcement that will propel the SP to dollars instead of cents. Especially after the SP hit $2.34 on news of Mercedes using Akida in a prototype. Imagine if an industry giant confirmed that they would use our IP in their product such as: mobile phones. What I’m trying to say is that our time will come eventually but it’s going to take longer than what we all would want. I remain optimistic but have also lowered my expectations.