Ann: March 2020 Quarterly Activities Report & Appendix 4C, page-3

Despite the covid lockdown a few things happening.

Great to see Cannagenix - Thailand, give us a draft JV & licensing agreement. We are in at the ground floor with Government approvals with this one. Even the Thai Government will be a partner.

Cannifarms, license expected this Calendar Q, so within 2 months, hopefully quicker than that.

Freshero look close to starting phase 1. What is of interest is the mention of Freshero's facility - "ripe planet". A quick google of ripe planet brings up this: https://www.eurofresh-distribution.com/news/phoenix-global-ambition-produce-leader

Ripe Planet’ hydroponics in Australia

The company is also making inroads into the Australian market, both in terms of production and imports. “Our goal is to become the number-one importer of US produce and a major domestic producer,” said Tak. To this end, Phoenix has invested in ‘Ripe Planet’ - high-technology production for specialising in hydroponic vegetables. Through this system, it produces adapted varieties of lettuce, tomatoes and other vegetables and supplies major Australian supermarkets, like Coles and Woolworths.

now if this is the same company/association - it could be huge - they are the 2nd largest rice company in the World!

Cash, as Jiggy said, burnt $1.4m with $1m left. Admittedly the cost saving measures, including the 12 employee reduction would not have kicked in during the last Q, so the burn should be significantly lower this Q