Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

Bahay building a sustainable water treatment business with growing revenues and expanding client base. Lots of blue sky with iBC and AMES and existing feasibility studies and more to come which means that annuity revenues from iBC and AMES is only a matter of time.

Reducing cash outflows while growing revenue shows the improving financial performance of the business.

Will highlight sections of the Report for discussion with Bahay on Monday. I will take note of the questions asked to date.

Lots on the go, more to come.

Mr M.