PSY - AGM, page-19

Hi Charles and any other holders who will be attending AGM

I have a question which I would like to be asked, if that is possible. Question is: In light of PSY's plan to incorporate a US based subsidiary (Annual Report 31/8/2016), which would presumably mean a premises rent/lease, staffing and more, where will the money come from ?

Given PSY had cash balance of $3.6m at end of 2015/16, how much money will PSY need to raise to further the plan to incorporate in US and continue with commercialisation in Australia as well as development of alternatives to the cantilever Lumi MEMS sensor; as there is no income stream from commercialisation as yet ?

What progress do we have with the new variants of the Lumi MEMS sensor ?

Also want to say, that I did email Alyn Tai (Secretary) and subsequently spoke with Nigel Finch regarding commercialisation and batch testing some time before the Annual Report was released (31/8/16), I would add that he seemed interested to hear the views of a shareholder and we had a reasonable conversation.

Am not pleased to see 8.4c, small caps with no income need news to percolate or better still stimulate price and PSY have not got much out there lately. However don't necessarily see a CR as catastrophic, this company has good tech, but did not have a suitable plan to get it to market; I believe they now understand that. So more money would be a good thing because if there is no news soon they will need it. Nigel Finch said to me that PSY now needs to focus more on commercialisation than research. So I take that the move to the US is part of a more realistic approach to getting good technology to market.

That is what I would like to see, I am taking a loss on PSY, but still think it may work out. I don't believe John King or Terry Welsh have been doing any selling, but not happy @ 8.4