Ann: Appendix 3B - Release of Shares from Escrow, page-26

If you've been involved with this from the get-go, you probably have a (healthy) element of pride attached and find it rude for someone to call it speculative. I can understand that but to me it fits the bill for a speculative investment: pre-revenue, no guarantee of timing or quantum of revenue and no clear look through to when the business will be self-funding. I agree with you that it's probably a longer term proposition but the trader in me also knows how the microcap market works and the COS for ASX microcap listings. No doubt we all want the same thing though.