Ann: Change in substantial holding - Wilkins, page-8

Having no IP is part of the risk associated with SP3, competitors could quite easily try to replicate or disrupt SP3 products by matching them, being cheaper or adding a new bell/whistle.

The SP3 products appear (at least in company releases) to be quite high spec & featured compared to competitors, but they haven't impressed potential clients large enough to enter into a medium-large sized contract - e.g. the previous trials with large logistics players as well as a trial with the Australian military.

Both of these potential clients slipped off the hook, and we're not sure if any other potentially big adopters are in the sales pipeline - holders need to ask why because there is no way that installs of 1-2 cameras on smallish building/project sites is going to power growth and/or scale for this business.

BTW - just as a side point, two of your higher priced examples of car makers in Toyota and Honda are both manufactured in China. Many of the parts are still fabricated in Japan, but some components are fabricated in China and most of the assembly for both these makes are now done in China.