Hatrack, I try to look at the whole picture. I am still positive...

Hatrack, I try to look at the whole picture. I am still positive that Boeing and the FAA will give our technology the approval for which SMN has been seeking for many years.

However, in hindsight management in my opinion have made some mistakes. Call it greed, Call it Red Tape; Call it incompetence or just Call it unlucky BUT here is my take on the Equity Raise over the last few years.

I participated in the Equity Raise at 0.90 cents against my better judgement. From the get go I was not going to buy in. However I got caught by the principle of "Adverse Selection "

I read the announcements of Bryant buying shares at this juncture. It help me to change my mind.

I purchased shares at 0.90 cents for which the share price has never been higher since after the closing date of that particular Equity raise in 2021

The main fact in this Equity Raise is this: Management are selling the stock down in valuation of every metric under the sun.

If anyone is having problems understanding my statement, I challenge anyone on HC to explain to everyone here which has the greatest value of these two sums:

a) 0.52 cents or
b) 0.90 cents.

Which Options has the greatest return for both the company
and it's share holders:

a) 0.78 cents or
b) 1.20 cents?

THE company is selling down the stock price. In business the price is the price. This second price is way lower now than the last major Equitu Raising. REMEMBER in Economics when you learned about
trade off's. Giving up one thing to gain another. In this case lowing the last 20 or so trading days to give away shares at the lowest point possible @ 0.52 cents when an even 0.60 cents would have been sufficient.

THUS increasing the number of shares on issue.
Also in my opinion only, my options that expired worthless should forever stay expired. I personally do not agree with that AGM vote to bring back the dead!

Another incorrect move in my opinion by management.

Get the share price over $1.20 then do another Equity Raise with REAL value being add to all share holders wealth.

All my opinion only.

Enjoy the flight.





I can see where Lies is coming from, and I am just hopeful that from all the testing of CVM sensors that the FAA with Boeing and the evidence through Delta installations that all parties can finally come together and support new technology in 2025 for the future of aviation and beyond.