Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-6

2M so not enough in the bank to cover it so I think it unlikely to get the blessing from ASX before they have coverage for that or the appeal is successful. Unless they can recapitalise somehow I don’t see it trading again until the end of the year at the earliest. The Frisian Flag order won’t go into production until end of Q2 so no revenue from there for a bit. Even then I think the contribution to free cash flow will be limited initially and we might end up with a contribution of around 200k when all delivered. I think there has been good progress and I m not really in a rush for it to start trading again as it will be just a distraction. Best to get the business fundamentals sorted in my view and then the share price will have a chance. I am optimistic about how things are progressing at this stage but a lot more needs to improve before year end. I think a decision will need to be made about committing to relocation at the end of 2024 and that will be based on orders received between now and then. 2024 will be a defining year in my opinion.