Ann: Trading Halt, page-137

I'm interested to understand the deception to which you refer. Could you articulate how you came to that conclusion? How did you measure there has been deception?

While you ponder that, let me give you and others my take.

I previously posted in July that FBR has 3 types of risk to overome (technical, financial and commercial).

I explained they will shortly overcome any issues regarding technical risk (ie. can the X build walls and get sign off). Troopy will either be silenced or he will be vindicated (I think the former).

Financial risk is associated with the company's ability to keep things going until it can stand on its own two feet (ie. become profitable). I'm extremely confident not 100% sure, but 90%+ they will have no problem getting ongoing funding (hence the cap raise). Diluton is always a consideration.

That leaves commercial risk. I essentially covered this area in the other thread, where based on the assumptions made (ie. from both data presented by the company and my own assessment), the company needs to increase lay speed to undertake WaaS in < 2 days.

The company is not there yet and I can't see any commercial agreements happening until then. So I would not be surprised these targets could not be achieved for an another 12 months. So I don't see an commercial income being earned for the remainder of this financial year.

But here is the thing, what I'm confident about is that the likes of WB et al will be wanting to to start work with FBR very soon in order to fine tune the operation of the X for their jurisdictions.

So if anyone is expecting commercial contracts in the next 6 months, I think you will be disappointed. In the next 6-12 months may be. In my mind more likely to be 12-18 months. If the $15m cap raise is correct, I think this will give them enough capital and time to be commercially ready.

So all the naysayers can carry on as much as they want, I'm happy with where things are at.

PS. So good to have someone in particular on Ignore (probably writing some rubbish about me but really don't care). If anyone interested watch the following video @BDawg / @HWGA / @Weitwinkel let me know what you think, it may answer some questions about you know who.

https://www.youtube.com/watch?v=Y0E6YZlp08U

NGNG