Ann: Appendix 4C - quarterly, page-40

I have been following RAN for quite some time and been invested for the last few months. The basic problem was the previous management and board were - I am looking for a non-defamatory way to say this - out of their depth. They made forecasts that were totally detached from reality and could not get even the most basic things right. The good news is they have all been moved on and the founder (Matt) has come back to sort out the mess.

RAN really has a massive upside because the original concept is sound. The instos poured in something like $70 million to allow RAN to achieve a viable business through scale. A large amount of this was put into physical infrustucture which RAN now has to scale the business up. RAN could go from one of the biggest disasters on the ASX in 2017 to the biggest turnaround story in 2018. Exciting times ahead.