Ann: Appendix 3B, page-15

CST Investment fund is run by CST Capital. CST capital directors are Joel Arber and Zhen Yip with all shares in the company held by First Maven pty. First Maven directors are Mark Ladau and Raphael Lamm of Melbourne based L1 Capital.

"L1 Capital is an independent global investment manager. The business is 100% owned by our staff and all members of the investment team are invested alongside clients."

https://www.l1.com.au/our-team/

The company have no reason to pump the SP for the note holders that I can see and the volume that has gone thru in the last few days is multiples of the relatively small amount of shares that the note-holder. The 3b was for ~18m shares, ~245m shares were traded across the 2 exchanges today. This close to the entire free float churned

As with most of these high volume runs there will have been a lot of traders involved, some of those traders will have very little understanding or care for what the business is or does, they are purely in for the trade based on the volume and volatility. When that volume and movement begins to stall the liquidity dries up very quickly and you have a bunch of traders wanting to sell but few investors/buyers left to buy their shares.

Volatility will likely remain for a few days with a bounce highly likely early tomorrow.

The thing each person has to decide for themselves is how much is this company worth?

They claim to be making $US20k/day and gearing up to make $US30k a day on top of their already substantial base revenue of $12m. If they can generate $15m additional revenue then they will be doing $27m annual revenue at 40% margin and will justify a substantially higher MC.