Ann: Offer Document, page-4

Hi all,

Interesting read. This is a negative post only for any mums and dads that may be reading this not for the experienced speculators. The idea is still really good.

My quick take.
Unprotected technology.
Unable to assure big players could do the same thing and much more cheaply.
Still in development phase (both tech and device).
Not yet identified a manufacturer.
No spend for manufacturing (that I can see) in the section where funds are to be spent.
Chairmans letter says $5m raise whereas everywhere else says 3.5m with min 3m. The number of shares will depend on this. Maybe that they really want $5m but should get their numbers coordinated.
Effectively the sensear group running this one (I still do not know if that company is profitable). If this is good why are they listing? Some may say because they need sig money to develop. Fair enough but implies not about to make any money.

All the above is from the prospectus.

I am worried about a tech company that wants to manufacture. The tech is in the software surely. Any number of companies can manufacture devices. If the tech is revolutionary then sell or licence this to someone with worldwide distribution. Don't do it alone from a couple of offices.

One last thing, tweeters and bloggers are not investment advisors!

All IMO

I suspect I will be clobbered for this post but so be it.