Ann: MoU Agreement signed with Blue Power Group, page-49

That I have and for the last two years I've watched my portfolio sink lower and lower. Every time there was hype regarding funding or revenue it was met with disappointment. That can be expected and it's not my main point of concern. It's management.

There was great opportunity in the past to tackle funding early but I feel the confidents (arrogance) of management barred anything from getting executed. In the past I felt the shareholders were clearly informed but that clarity has dwindled. I feel like I was mislead over the last CR where funding for the first batch was covered. Instead we're left with an unpaid invoice. The AGM should have been a time for investors to find answers but the amount of time allocated for questions was dismal. All unanswered questions were prompted to be forwarded through. That's great but I only have the patience to write so many emails and make so many phone calls while getting stood up for replies.

Why would MM take on his assigned role for chump change of 74k a year if he didn't have funding sorted? It's the same reason I'd do it. That's an easy 74k in the bank for a few guest appearances and by the odd chance I stumble into a sucker willing to fork out the cash then it's no skin off my back. Either way I come out on top.

To address Hunter, your point about Meir trying to get SAS to the next level is very valid but there are other points of discussion around this. For self interest he wants the project to succeed because he will be guaranteed handsome board payments for the rest of his career. What I'm getting at is that I feel he has no conflict doing it off the skin of shareholders backs before he'd be willing to use his own capital as a last desperate act.

I remain holding because coming into this investment I told myself I'd go down with the ship. I think SAS may stay afloat scraping the barrel but long term holders will suffer as they have been the last two years. My sentiment is sell in hope newly invested individuals don't suffer the same unsubstantiated hairline hope that has strung us along this far.

I still think SAS is ahead of the game and the technology is groundbreaking. It's just Meir & Co. holding shareholders back.