Chart, page-22

The money is rolling in....I think not enough credit is given to the fact that RWL Water owns US$85m of the US$90m for CY17 and is growing at 30-40%/yr....so CY18 will be US$110-120m on RWL Water alone. We keep talking as if FLC has no revenue....yes, the potential for MABR re China and these contracts could be truly staggering....literally doubling yearly revenue overnight with any of a number of these contracts coming to fruition....BUT I think many forget, RWL Water has 7,000 installations in 70 countries and 250 employees....and somehow we gained access to this large and experienced sales force at a cost of less than this years revenue!....find an asx listed company that has US$85m revenue that you can buy for US$64m....and whilst still losing money (in large part probably due to inventory build as well/filling contracts?), comes debt free and its previous owner tips in another US$20m in equity! The company very much has revenue and this will continue to grow in spite of MABR/SUBRE/EBR....but this revenue will be supercharged and this is what cannot be predicted re timing....we may very well see a stream of contracts come out of other areas. Contract announcements, unless very significant, will no longer be mentioned by FLC....code for, we expect a constant flow going forwards....don't discount what could come out of Central and South America over the next 3-6 months. The power of what RWL Water brings to the table should not be under estimated....two of those three contracts announced by EMC had RWL Water written all over them....and this proved to be such in recent presentations. It may take a few weeks to begin to move but many funds will be discussing FLC and future scenario's/revenue and our size now instantly moves us to ASX300 re next listing adjustments (once NABTrade/Comsec etc get their act together and adjust the shares on issues/mcap!)....index funds most likely buy/sell well in advance of these adjustments so they don't have to suddenly do it en mass on any additions/removals? I discount any potential buying from US sources as RWL Water was a private company and we have no US listing and are still small fry below $1B mcap on US metrics as well, but I don't discount buying from funds in Aus/Asia due to our ASX listing. Hang onto your hats if any one of those contracts is signed off re MABR or SUBRE (Tanjin)....our projected revenue for a given CY will instantly double....add to that if any insto likes the story and they want even 2%, that's going to be some $7m+ in shares and a lot of selling is going to be required to fill this. So, the quarterly updates may just be revenue updates as there could just be too many contracts to list, other than a major one out of China or a big RWL Water desal project. The 1st line re MABR is on it's way and will be installed by Aug/Sept and product will be rolling off the line by Oct/Nov??.....revenue we already have and funds/insto's won't forget this....how big will be the jump is the question....,

kind regards, SEAH.