Saddle Hills Project, page-55

Sorry about that, it was late and my main focus had only been on the funds from Akira. The options were an afterthought and I only looked at the first page of the offer document.

So given that cash burn without engineering/development costs are between $2m to $2.5m based on the last two years and with development costs being substantially less with the engineering largely completed this would mean the reimbursement of costs, development fee and exercise of the options would leave more than enough funds to get 8 more projects started within the next two and a half years (and that is not factoring in the unlisted options and cashflow from any of those 8 projects).

Executive salaries are not $2.8m in cash per year, plus even if they only develop one project (64MW) a year then that is $6m Development Fee plus an additional $700k royalties per plant each year.