Ann: Notice of Initial Substantial Holder, page-24

You raise a valid point, and I appreciate your candor. The sentiment to buy is not solely based on hope but on a combination of factors that suggest potential upside, despite the evident challenges. Let me elaborate:

1. Potential for Strategic Moves: The recent developments, such as the consultant becoming the largest single shareholder, indicate that there might be strategic plans in the works that are not yet public. This could include restructuring, new contracts, or even a strategic sale of assets like IDSB, which could significantly alter the company's financial trajectory.

2. Undervalued Stock: In many distressed situations, stocks can become undervalued compared to their intrinsic value. If there is a belief that the company's assets or potential future cash flows are worth more than the current market valuation, it could be seen as a buying opportunity.

3. Active Shareholder Involvement: The involvement of significant shareholders who are pushing for changes can sometimes lead to positive outcomes. The new consultant-majority shareholder might bring fresh perspectives and strategies to the table that could turn the company around.

4. Rights Issue and Short-Term Capital: The upcoming rights issue, if fully subscribed, provides short-term working capital that could be pivotal for executing any new strategic plans. Watching how this unfolds will be critical.

5. Potential Legal Wins: The outcome of ongoing litigation could provide a much-needed financial boost. While this is speculative, it represents a potential windfall that could change the company's fortunes.

6. Operational Improvements: If the company manages to return to lower cost structures as seen in previous quarters and stabilize its revenue streams, it could move closer to profitability.

That said, the sentiment to buy is also tempered with caution. This is a high-risk investment, and anyone considering it should be fully aware of the challenges and uncertainties involved. The call to push for transparency and accountability is part of a broader strategy to mitigate these risks by ensuring better corporate governance and clearer communication with shareholders.

Ultimately, the decision to invest should be based on one's risk tolerance, investment horizon, and confidence in the company's ability to execute its turnaround plans. As always, it's crucial to conduct thorough due diligence and consider diversifying to manage risk effectively.