Ann: Letter to Shareholders, page-43

Below is the email I sent. I will follow them up tomorrow

As a distraught and annoyed shareholder, I request answers to the following questions. I also request a response immediately that you have received this note and that these concerns will be presented to the Board.

1. How are you going with the actual development of the exchange and what are the time frames for beta testing and launch.
2. What are your time frames for the legal action over the soar coins
3. How are you planning to pay for the legal action.
4. Why did you respond to the ASX in such an arrogant manner - like the funding question. Saying we may get debt or share issue without having any specific plan.
5. Are the BPG management going to return the gifted 830m shares as a sign of goodwill to shareholders. After all, if ASIC shut you down, the shares will be worthless.

PLEASE NOTE : The response to ASIC needs to be very specific otherwise they will shut you down. You may or not remember of the CBA brush with APPRA that nearly closed the bank all those years ago over a very small rounding issue on unit pricing. CBA had to employ over 200 people to manually re-calculate.

You cannot answer ASIC like you did the ASX. You must keep your answers short and be very specific with an actual plan in place. Your response to the ASX had lots of words but no substance hence why you have been referred to ASIC. I would suggest that you make a big play about the legal case (from a financial survivability view) in that, the coins are your only real asset keeping you afloat. You should spell out your confidence in winning, citing the contracts etc. I also suggest that you have a plan B and C. These can be loans but you need to have a letter of intent with you otherwise it will be goodnight nurse. Remember, if you lose the legal case and you have no other financial plan in place, then the directors could / may be charged with trading whilst insolvent.