Ann: Business Activity Statement & Appendix 4C - Mar 2024 Qtr, page-30

Im not sure you can look at many hundreds of millions of RWS sales and say its somehow niche as a detraction. I do think the technology underpinning the RWS and CUAS platforms is consistently showing that the EOS product is good and that there is some technology moat there. Not anyone partners with L3 Harris, Diehl etc. In any case the future is CUAS imo and this will drive Defence.

Im also at loss to see how you can say we are nowhere where we were four years ago when 2024 is on track for record revenue. WIth a new CEO that is not thinking about building sateliites or missilies or rocket ships.

The way you phrase it, its binary. Either EOS survives, pays down its debt or it collapses. Well that means the SP will run once the debt is repaid. Also I would bet you that you could sell EOS right now in adminstration and someone would pay more than the current market cap for the Company unburdened with debt and being able to strip out corporate costs through synergies. Businesses generating $240m in revenue with contract backlogs of over $500m dont grow on trees.

The past is the past, we cant change it. I remain invested and so the simple Q is if the SP is going to be higher than it is now in the medium term. I guess everyone makes that assessment in their own way but think EOS still has a foreseeable growth path. Reasseses as always as new information comes to hand.