Ann: Appendix 3B, page-2

I think this is very poor and why we didn't vote for it, 17 million times.

Take our MD for example, he started in April 2019, by August 2019 he’s given 30,000,000 options at strike of $.005 where the share price in Aug 19 is $.004 (had been to $.005 that month) but now at time of issue it's $.011 so an extra $445,500 to the MD for turning up and doing his job (on today’s prices) but he has to 2021 to have to cough up the cash and maximise his return.

He’s massively in the money already for just 3 mths work, on top of his salary and yet we may be looking at a capital raise in the near future, but this is label an 'incentive' to attract, reward and retain key people. Make the strike price challenging and a real benefit to every shareholder including him if he gets there, not a free handout for just turning up. Where is the incentive? It should be say $0.05 cents by 2024 not $0.008 by 2024.

This is the type of stuff that gives a bad smell to companies and what I feel ASIC should look closer at, as I cant see how handing out an extra $803k to our new directors for 3 months work does for acting in the best interests of shareholders…