Ann: An update from the Executive Chairman, page-48

I welcomed the update from Ross. It seemed like an honest assessment of SMN current situation.

The fact that SMN has very little influence in expediting the approval process with both Boeing engineers and the FAA, while coming as a realty check, after some reflection comes as no surprises to me. Why?

The cost of one new 737 is roughly $US90m and the cost of a new 747 is roughly $US400m. SMN market capitalisation is currently $AUD93m or $US62m. Boeing in 2022 sold approximately 480 aircraft.

We are seriously small fries.

However we do have some ground breaking technology that can eventually influence the entire aviation industry, so we can't be ignored.

So progress needs to be made with this CVM application to APB's obviously as it will also have flow-on ramifications to other applications on the aircraft

The question from both Boeing and then the FAA is : Does it need to be rushed?

I suspect that Boeing will be slightly keener than the FAA. I think at Boeing (while still cautious) could see the tech being implemented as an option in their new builds and may influence some customers on their choice of aircraft. Also installation on existing aircraft will make them safer.

While the FAA is essentially a form of bureaucracy and I feel that they have not the need for speed. I have no idea how to read them, but they did approve the CVM application to the WIFI systems. They are essentially the critical element where the safety of aircraft is concerned. Who knows?

Both are not risk takers and will be ultimately cautious, So all the boxes will need to be ticked.

So we wait?

Just my opinions, So DYOR.

cheers Lies