Ann: Spookfish Achieves First Performance Milestone, page-9

Its my understanding that many or indeed most RTOs are structured with a back-end Performance Milestone reward. In SFI's case the metrics are (PM1) $20m cumulative revenue/4 years or VWAP 18c and then (PM2) $36m/5 years/VWAP 18c. I personally have no issue with the structure as the reward goes to the founders who are mainly the developers of the technology. They reach the agreed performance milestone - they receive the agreed reward. My issue continues to be with Marinko and management who are not keeping the market fully informed and not managing newsflow that has the effect of keeping the share price buoyant. Those of us from the industry are aware of the significant Australian customers using Spookfish imagery and how much they rave about it. And then there is the issue of Eagle View Royalties. They have taken delivery of multiple Spookfish camera systems. One assumes they are flying and acquiring imagery. Therefore, we should be informed of the revenue flow (at least), but moreover what's been captured and the stories behind it (customer benefits and customer testimonials). Then the market views the stock in a more positive light.