Ann: Appendix 4E & Annual Report, page-11

I know it isn't going to be a popular post but it was as expected right? We all knew income and burn so to me it wasn't unexpected, if people were expecting a we nearly made profit then not sure where they were getting that idea and the posts in the last 3 months surely had sentiment was not backing this up.

I did notice Gernot's pay was significantly reduced which was 476k total package previously to 103k in 2021 - I feel this is more in line with where it should be, yes you can argue that there hasn't been SH wealth but you have to pay the chairman something and well he did get the previous board in place and is still here. He has a fair bit of PR that you would feel he would want to achieve for himself.



It is pretty clear now we are in the holding pattern until the first buy and build takes place, when don't know but you would assume soon as in if it isn't this qtr then next qtr.