Ann: Appendix 4E - Preliminary final report-unaudited, page-5

These are my thoughts
1. We lost Leo Lee as CEO, I personally invested in this company because I liked how Leo used to be hands on about promoting the company’s tech and knew a lot about the company without reading off a script like the current Karolis.

2. Convertible notes, the funding deal which was announced not too long ago as Karolis’ first major deal was poorly structured and didn’t make sense for the company imo.

3. Shareholder communications, you won’t get an email response to any questions/ concerns and the phone doesn’t work. There are much better companies in the space in that regard CYP and OCC come to mind.

4. Karolis doesn’t instil confidence in my opinion, I personally don’t trust that he is the right candidate for this role and wished the board took longer to find someone with a proven track record. I want to be proven wrong but at the moment he hasn’t been moving the company in the right direction. Share price down ~45% since he took the position.

Not the happiest holder at the moment