Current Update for E88, page-4

Fat chance. Shareholder value wasn't a strong suit of E88. Fortunately the old crew are resigning. It's basically a backdoor listing. Share consolidation, cap raise and change of name.

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LiDAR, an acronym for “Light Detection and Ranging”, is a remote sensing method that uses light in the form of a pulsed laser to measure ranges (variable distances). These light pulses – combined with other data recorded by the system – generate precise, three-dimensional information about the shape of the target object or target area and its surface characteristics.

Quantum Labs uses LiDAR hardware, coupled with artificial intelligence and machine learning algorithms and analytics software, to provide object recognition/location monitoring solutions to a diverse range of customers.Quantum Labs has established a number of strategic relationships across Australia and worldwide, and its customers include the South Australian Government; one of Australia’s largest airlines; one of Australia’s largest multi-venue performing arts centres; and a global developer and manufacturer of networking hardware, software and telecommunication equipment.

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In parallel, the Company intends to undertake a capital raising under a prospectus, and seek a re-listing on the Australian Securities Exchange (ASX Re-listing).

As the E88 Consideration Shares are expected to represent approximately 62% of E88’s post-Acquisition and capital raising share capital, E88 has commissioned an independent expert RSM Corporate Australia Pty Ltd (Independent Expert) to prepare an independent expert’s report stating whether, in the Independent Expert’s opinion, the Acquisition is fair and reasonable to E88’s shareholders.