Getting in at the start, page-62

With respect it has nothing to do with illicit use. It is rather about common vs uncommon (unique) UAS.

Droneshield detects via a database acoustic signatures of common UAS. If these common UAS had inbuilt firmware to geofence sensitive areas (which looks to be the direction drone manufacturers are taking) then an investment would be far better spent in protecting and developing these geofence capabilities.

An uncommon illicit drone would not be picked up by Droneshield unless its acoustic signature was in the database, and thus Droneshield does not protect against uncommon UAS.

Droneshield's market is targeting common UAS manufactured on a large scale of which geofencing seems to be the growing solution.

My concern is that geofencing was not mentioned once in the prospectus yet it is clear this is the direction of the industry. Whilst there is a market for Droneshield at present I believe this may only be the case until geofencing capabilities step up.

Good luck with the investment