Ann: Appendix 4C - March Quarter Report-BUD.AX, page-15

Ok, I definitely was way over the odds on my rev prediction... However, what Dave has reiterated was very much my point, This industry is in its infancy and so is this company.

I think on balance this is a very positive update. Pipeline work is still solid and realistically significant SP
gains (and rev) are probably 6 - 12 months away.

Once the IOT space begins to really form, so will this companies rev and long term prospects.

$13m in cash, and wouldn't read too much into their last qtr travel as these huge events aren't every qtr.

I don't really care what happens Monday as I've said before this is a long term hold for me. The irony of this market is that it probably hits $0.20 We'll see...

The one comparisons I think is interesting is SMN, this has been a 12 bagger from $0.20, has a market cap of $250m, had $3.76m in cash and $0 revenue last QTR ($116k YTD...) ...!!??

The SP will have its day and then some, and will top up along the way.

Clearly the end goal will be a listing on the NASDAQ and/or a TO. GLTAH

Have a great weekend.