Just saying, page-4

Hi Tizard,

Delaware - there is no interest. This was a design and construct contract.

Northam - 11% interest of a project that is trying to derive income from the WEM Spot with falling LGC values. White elephant despite how it was sold to shareholders. As mentioned previously look no further than the fact they sold 39% to IBA for $2.5M (remember this was a $17M project). 

Garden Island - 100% owned but it is unclear what revenue this brings. As per usual no disclosure. NOTE: still not connected to the network which means there is no revenue.

Leading player in wave - highly debatable, infact it’s crap. They have now easily been surpassed by numerous other players. Look no further than the 2017 OES report. Australia and CCE dont even rate a mention. CCE are now well behind alternate wave and tidal technologies.

Unknown connections - possible, however I am inclined to agree with Jukebox. If I were a potential suitor I would be waiting till they fold then move in and collect IP. 

Kalbarri - I would imagine this is struggling. Note we have heard absolutely nothing about it? 

Jukebox is absolutely correct in his appraisal; failure to communicate, failure to meet schedule, failure to deliver. Thrown in also gross incompetence in the EMC acquisition. 

CCE and govt will hide behind the R&D issue but the truth of the matter is that this business has been lying / hiding the truth misleading and mismanaging for some time now. 

Lets not loose sight of the fact that in order to obtain R&D grants under the current regime (43.5% on every $) you need to spend money. CCE have none. 

Under the new structure proposed (corporate tax rate at 13.5% and capped at $4M) CCE is up the creek. 

Regards, JB