Change in TOP20 Holders, page-2

Aside from the obvious continued decrease in our largest shareholder’s position, the interesting one is the drop off of “MORGAN STANLEY AUSTRALIA SECURITIES (NOMINEE) PTY LIMITED ”, who were previously No.11 with ~4.23M shares. They appear to have been new in December and most likely one of the institutional investors who came in via the most recent CR. Appears they lost somewhere in the order of $100k-$400k in a few short months…

Our Top 20 are still sitting around 25% of the total shares, which has been relatively consistent over the past year (and within the 20%-30% range of the previous 5 years).