Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-13

You are so far off the mark it’s ridiculous. Joel runs shit tonnes of meeting with US investors from my understanding. They approach us and hence I guess the want to move to the US so they have easy access to liquidity. Have you seen Joel present? He is ridiculously good, so over the content of the programs and very very proficient in his presentation skills. Bob Clarke in the Us no doubt is the same (I haven’t personally seen him present on IHL).

Our Quarterly was fantastic. Low cash burn given the programs in play and the amount of work done is world class. You need to get out of the weeds and look big picture. I know you mentioned you are older and want a quicker result but for me I am very confident that within a year this will look very different. I hope you stick around as you have come most of the journey. It would be a shame to lose the faith at this stage. Not one thing in the news was negative. I get the price is depressing for some but with cash in the bank, programs on the go and hopefully a new full listing in the US where funds and brokers can have access to us on a daily basis, I’m all in.