Here are a few of my observations about CWEs progress over the...

Here are a few of my observations about CWEs progress over the past couple of years:

CWEs Ceto 5 demonstration project was built using mostly grant money from the Federal and State governments.

The project achieved what it set out to do, surpassing all other wave companies achievements with no apparent mishaps.

On completion, it was decommissioned and the company was rebated $12 million by the ATO.

With money in the bank, CWE were able to buy a 35% stake in an innovative solar and battery storage company (EMC Solar) without the share holders having to kick the tin.

In addition to cash, CWE transferred 1.5 million shares to EMC as part of the deal.

In effect the companies have a common cause as well as having equity in each other.

Partnering with EMC gives CWE access to a whole new market that should see income flow in much sooner than would otherwise be expected.



I think we are looking good.