Ann: Prospectus - Convertible Notes, page-11

Apart from the SOL telecom agreement many of the Company's key commercial agreements are indicative only, are not binding on the parties and require a formal agreement to be negotiated and signed in order to bind the parties. There is a risk that additional formal agreements may not be agreed and signed by the Company in respect of these arrangements. If the Company is unable to sign additional binding agreements with its anticipated operators, customers or suppliers, the Company would not be able to derive any financial or other benefit from any of those relationships and the relevant commercial agreements disclosed to the market would be of no effect