Ann: XTEK Investor & Shareholder Presentation - 9 May 2017, page-8

Very true, $40m is still a decent sized contract given our market cap, many multiples bigger than any previous contract. And this is just one area of the XTE business. I expect to see significant growth and orders for our combat armour moving forward.

We may yet avoid the cap raise with $4m ish in orders coming in before EOFY, so hopefully that will provide the cash we need. But if it does happen I agree it would be bullish if it is placed to a new a holder. I am cognisant of the fact the directors have been buying on market recently, may indicate they are not preparing for cap raise?

s.loeb