re-rating

Dear MRV shareholders

Re-rating? When?

Brainstorming, please

Plausible cash inflows:

1. $7.2 M tax refund
2. Disposal of Kingaroy's assets (ex pilot project). Board must make decision asap.

Let us say only no. 1 that MRV will successfully obtain $7.2 million tax refund.

= Cssh inflow per share = $7.2 million/1,829 million shares = $0.004 per share.

Current share price = $0.003 per share. Upside potential share price is $0.007???

Worst scenario: 50 per cent of tax refund = $0.002 per share. Upside potential share price = $0.005????

If the Board is confident to obtain tax refund, MRV does not require to raise additional working capital. This will increase investors' confidence and strengthen MRV's share pr

Another scenario:

Establish new Joint venture company with corner stone investors to explore MacKenzie's project.

1. MRV : 60 per cent
2. Corner stone investors: 40 per cent