Ann: November Investor Presentation, page-33

1. the board has more than enough to execute current plans and even expediate if they wanted. 2. current markets (volatility) are not conducive to raising funds. 3. tye board clearly knows what is going to play out this next 12 mths amd they will have ability to raise funds at . . imo $6-$15 a share in 12 mths time when the future outlook of wbt will be much better know and ability to pitch to cornerstone investor so so so much easier. in reality i reckon there would be people lining up to get a wedge!!!

focus now is on commercialisation and current developments and there is more than enough cash for that. our cash reserves are something like 2 x 4ds market cap to gove some perspective!!!

hey if i am wrong all good.

board could raise $60m now with issue of just 20mil shares and super fast track development and commercialisation = win

or board could raise $60m in 12 mths with issue of 10mil shares or less and get the funds when needed = win.

either way dilution will be minimal especially when you know the leverage the board would get using those funds in the first to market and mass commercialisation efforts.

if it was me . . i expect (and would love to see) another big cornerstone long term holder like the last cap raise done in 8-12 mths and really crank this baby up. give dadi access to a treasure chest and let him maxamise it for us all. dilution . . 5% ish . . market cap appreciation . . multiples.

for those concluding . . we have investor presos therefore must mean cap raise. i think these presentations are a long overdue (post covid) thank you visit to loyal shareholders and also a 'ok all you people who could not see what we were doing before . . we are now right at the finish line and even joe blogs can see what wbt has got . . take a look . . take a look . . take a look' .. it is a roadshow that will get a lot more eyes on wbt and in that a share price appreciation to reflect what little risks remain and what massive opportunity awaits.