Ann: Letter to Shareholders-POW.AX, page-4

Refreshing to hear honesty from the new MD. Imo, in stark contrast from previous management.

That said I believe the damage is done. POW has wasted 9 months and almost nothing has happened since the capital raising. Bunbury trial period runs out in a month and as far as we're aware one buoy has been in the water with no idea on how long it was in there or the kind of results it yielded. Yet we were led to believe 30 were under construction and soon to be deployed?

I believe it'll be a savage sell off in the share price. New MD is already talking about wind and solar energy. The horse has bolted on those technologies imo and how do you go into solar and wind with limited funds and no expertise or business plan?

I'm out.