Ann: ITL BRR Interview, page-4

Bill, RE EBITDA: "We expect it to go down a smidge this FY, then recover."

Logically (given the loss of EBITDA in the business sale), Bill anticipates an increase in sales and revenue for the other business units for FY18 but the issue for the stock price, and holders (as is basically always the case) is that of degree.

Bill acknowledged that the 14.4 mil will assist in driving revenue increases, and holders (IMO) could very reasonably expect that ITD will continue their impressive run of contract wins / contract extensions from FY17.

And given the company's very (oftentimes annoyingly) conservative forecasting I'm generally happy with where the company's at, especially given the extent of their present international contracting (and for a company this small) and their penchant for continually innovating with new patents and products in high growth, high margin industries. (There are 12 new products planned for FY18).

The ship's running well.

Perhaps the only annoyance for myself (and other holders?) is the conservative forecasting, and the real possibility that ITD's stock price will not reflect it's real value in the short (6 month?) term. All the same I'm expecting good things in FY18 and if, at it's worst, ITD turns into a good 2 year investment instead of a good 1 year investment, then so be it.

GLTA.

MXS