Ann: FBR - Financial Statements and Directors Report - June 2020, page-166

Hi Alex

I don't think they will meet the November deadline for last milestone unless they sign off on an International JV for $10 mill.

If they do (eg. sign off with WB), I think I would be great for the share price notwithstanding final performance shares will be issued.

Can't think of any downside over the next month.

So:

• If they don't meet the milestone then all those posters (holding shares) that have commented negatively in the past will no doubt breathe a sigh of relief;

• If they meet the milestone that's $10m in the bank and I would think it be be looked upon very favourably by the market is it comes with a JV with a big player getting closer to commercialisation. Personally for reasons stated previously I don't think prepayment of $10mill for 5 machines would constitute revenue for the purposes of the milestone.