Ann: Appendix 2A, page-15

AR9 needs contracted revenue. It's current major contract is short term(Aug-21). If they do not secure new contracts we will see the share price slowly slide south, however I expect it will rebound to much higher levels if such an announcement eventuates. Revenue is needed to uplift fundamentals because the current share price is propped up by speculation.

It will be interesting to see if they go down the TNT path of acquisitions noting TNT's share price has doubled in recent weeks however AR( needs to focus on new customers with revenue - especially renewable licenses.

I still expect this to do well in teh liong term - just need to have faith and take the risk for reward.