Ann: BluGlass Business Update, page-9

Hi Anachronist I entered this stock with full knowledge of its highly speculative nature. I am also prepared to loose the entirety of my gamble as I am appreciative of the technology and the people involved.

I with you also recognise the hard work, persistance and incredible intellect and tenacity shown to develop the BGL technology to this point.

To clarify my position I would like to specifically direct my dissappointment!

My criticism is in respect to the clear lack of fiscal responsibility currently shown by the BoD to maintain the economic viability of BLG.

The current environment has governments handing out hundreds of billions in economic support of business and workers. Salary negotiations are occurring daily. Landlords are encouraged to take cuts via negotiation. People are universally realising sacrifices have to be made and are making those sacrifices to achieve the end goal.

Many speculative stock BoD's are cutting or freezing executive entitlements altogether to prolong economic viability.

Decisions and vision such as this is will assist in building shareholder and investor confidence. Envisaged good news will solidify this perception and BLG may florish to realise its potentail.

Instead the BLG board on one hand is asking SH for additional funds = dilution. On the other taking 50% of their entitlements in shares = dilution and not accepting actual real reductions in entitlements.

Inevitably the likely tangible positon at current share price for further CR is via consolidation and further dilution.

Where is the clear and sound economic decisions from the BLG BoD to maintain viability for as long as possible in unprecedented economic times as many others are wisely doing?

If BLG management and team commercialise the technology and the business becomes sustainable, a job well done! At this point the BoD and employees must be rewarded; however responsible economic decisions are required now!

Take the hit now and build performance entitlements into the vote at the next AGM. I will be very happy to support this vote in favour of performance rights on clear performance, commercialisation and income achievements.

Is that a fair proposition?

My personal belief is the BoD's, 2020 50% fees in shares announcement is a slap in the face to my investment in BLG.

Unpredented economic times requires innovative economic solutions. Stem the outflow now and recieve the entitlements if, only if, delivery is made to the station!

Time will tell and I wish only the best in health and wealth to all involved!