Ann: Response to ASX Appendix 5B Query, page-11

I know you mentioned previously that you called the company and it left you with confidence. I would caution that holders here have been calling the company for the last 3+ years and I’m not sure if anything they were told actually came to fruition. Just logically speaking I don’t expect they’d paint a negative picture to a SH who takes the time to call, regardless how difficult things might be.

Also, your thoughts on funding saving the SP are quite off. It has nothing to do with MNS, but generally a funding event like this one yields short term runs at best, and often settles with a more neutral tone at the pre-announcement SP. There are many reasons for this but there’s a lot to get into.

What Magnis is trying to do is really, really hard. They’re attempting multiple factories but they’ve never commercially produced a single batch of these products, ever. It’s a steep hill to climb and as I’ve pointed out before, I’m not so sure the technology is unique anymore.