Ann: Completion of Successful A$40.7M Capital Raising, page-23

Many thanks, still underwater but not sinking now. With some luck, hope to catch a breath above water when our larger shareholders like the Liberman family’s Jagen’s holdings turn profitable. (25c my last estimate).

It could have gone terribly wrong had our 4Q results faltered, but confidence from Doug was the key factor for my bet.

That said, now knowing that we have sold the Aeromix and the restructuring of the Israeli business, the cost of these to our bottom line for FY2023 is still unknown. However, we can safely look forward to a much cleaner and better 2024.

In the recent presentation by our Jason Bowman in Paul Greene’s anaerobic digestion and waste to energy conference, I am very pleased to note that our fully integrated systems also include or recommend MABR to effectively reduce nitrogen in the effluent or digestates.

My take here is that even if a competitor’s digester is selected for a certain system, we may still be able to sell our MABR to any industrial systems for efficient removal of Nitrogen and ammonia, we can be a specialist component that is not just restricted to use for municipal waste.

https://youtu.be/xSnzC7fS9eI?si=Bt6ISgrDG8v1FrUl