Q1 in review

I wonder what people's thoughts now on management's performance are ?

STOCK PRICE

Finished the quarter at 11.5c, all time lows. market cap of <$7M, down 45% for the quarter !




BROKER SUPPORT AND PROMOTION

It is management's job to ensure shareholders are getting value for their money and that deals entered into are commercial. I have not seen one bit of publicly available (via ASX or SP3) bit of research or promotion from PAC Partners, who were appointed as lead broker in October 2018.

I have expressed my distaste at PAC's performance to Craig, the head of PAC. In reply he said they are taking no fees, options, nothing. If this is the case and they are not acting as lead broker, where is the announcement confirming or rectifying the situation and where is their replacement ?

I've asked shareholders here time and time again to see if they can get a clear answer from management, yet it seems impossible. Who is our lead broker, who is promoting the stock ? If there is none, is someone now on top of seeking a replacement ? It was me who introduced PAC originally and it took Peter over 3-4 months to sign them, so left to their own devices I wonder if we will ever see a replacement ?

MATERIAL DEALS

What has been announced in the way of major deals this quarter ?

I don't see any cannabis or mining deals, anything worth $100K+ mentioned in the pipeline. I don't see any new major trials.




NEXT QUARTER

So what are shareholders expectations for next quarter, because it appears there is no performance benchmark for management to meet, either with respect to the SP or revenue growth

Revenue was flat last quarter and the SP tanked 45%

This quarter the company desperately needs a debt facility to alleviate CR concerns, or an incredible SP rally to avoid diluting the stock at a 40-50% discount to IPO right as it's had it's first CF+ month

This has turned into an absolute farce

1. Secure a debt facility of $1-2M
2. Announce a new lead broker with proper incentive package (2M 25c options dated Dec 2019)
3. Roadshow to small cap funds and brokers, release retail research
4. Seek to secure as many paid trials in the cannabis / mining sector as possible

This really isn't rocket science, and it shouldn't have to happen at a snails pace

As I've said numerous times, I loosely sent the solar and thermal range to 4-5 cannabis cultivators who all showed interest in participating in trials. There are up to 500-1,000 of these guys across Aus, NZ, Canada, US, Europe etc. You cold contact all of them, introducing this whizz bang technology that is perfect for cannabis protection etc, seeking paid 3 month trials. $15-20K is peanuts to guys protecting a crop worth anywhere from $50-250M. As long as the cost of the trial (flights, product shipping, implementation etc), covers SP3's expenses, then this should be about securing as many as they can and having them convert to sales when the users experience the benefits.

We are sitting on $1.4M of stock ! It is just crazy, they should be trying to get it out the door as fast as possible, getting as much exposure and use as possible.

I am absolutely baffled why we don't already have 5-10 cultivators testing these on their farms across Europe, Canada and USA

What are people's expectations of management this quarter ?