Ann: Infigen Monthly Production - January 2018, page-10

Hi Billy.

I am just frustrated by IFN's lack of progress. There are a number of moves available. I acknowledge being decisive with soooo many variables is really difficult, and the BoD is better placed to find a path through this than me.

The refinance is the big issue. IFN has not found a way and it has been many months. I appreciate the current financiers want a pound of IFN's flesh to release it from the very restrictive loan arrangements.

Bodangora starts generating electricity and $$ in the spring and sits outside the restrictive covenants. Meanwhile, IFN's very good cashflow can bash down that debt, My entry cost is well below the current SP and I have my desired allocation. I can wait.

IFN is a screaming buy at this price.

Ash