Ann: Initial Director's Interest Notice, page-19

Seems a few SUD shareholders have taken issue with my recent comments on Twitter regarding SUD

Let me clarify ...

For a start, I have never said SUD's IP range is worthless, not worth pursuing or anything of the sort. What I said was they have a large range of IP and are attempting (IMO) to put their fingers in too many pies at once, so it distracts the business and investors and makes you question what the flagship asset is - it's hard to follow without a good 30mins - 1hr of research.

My 2 gripes with this company has only ever been:-

- SC as Chairman was paid for too big of a salary and not tied to performance; &
- They seem to be signing long lead development deals with small royalties and upfronts simply to appease shareholders

Remember SC was up for re-election, promised 2 deals beforehand and delivered (but were they spectacular ?)

The new Chairman appointment is to be commended, great credentials and contacts. I think he will do wonders for SUD

I haven't followed SUD closely enough to comment on their current IP range and pursuits, however what i will say is that in order for this to kick into gear, they have to land a deal with:-

- decent upfront payment ($M's) to alleviate CR fear
- reasonably development time frame (12 months)
- some easily achievable milestone payments

The other thing you guys have going for you is CPS as broker. Remember they 27 bagged BIT from CR price

So let's put this to bed now, I have no ill will against SUD. I think they have a great range of IP, they just need to focus and instead of settling for mediocre development deals, go after a big fish and land themselves a flagship asset

I truly hope it 10 bags or more for all of you