Ann: Results of Meeting, page-4

Good Morning Coppers,

Yes, I also attended this EGM and it was, as expected, a very quick (<15mins) meeting to formalise a few resolutions. Steve wasn’t even there, he was in my home town of Sydney with James hopefully signing off on another channel deal (Optus maybe?).

I saw you there Bastjose, I turned around and eyeballed you.... assuming you were the older guy sitting behind me. As you know, there were a few questions asked during the meeting but it wasn’t until the formalities ended that a few of us shareholders engaged on 1to1s with Chairman Peter Clare.

Whilst he was cautious and appropriately reserved in his comments, he did give us some very clear signals about the road ahead for Dubber, all of which was very positive. In particular, he addressed to scenario of a hypothetical take over and how it might play out.

He used a bank as an example formula for how a t/o might work. In that case, if a bank was made an offer 30% above its stocks average trading value over the preceding quarter, the bank’s board would need to give such an offer serious consideration. But this is because banks share prices usually don’t fluctuate in the same manner as a tech stock like Dubber which, as we all know, has been a bit of a roller coaster lately. So, in this case, he said a board would need an offer of as much as 200% over the average trading price for it to be taken seriously.

Therefore, I have drawn the conclusion that Dubber wouldn’t be a t/o target for someone like Cisco unless that offer range was $2.50 - $3.00 or thereabouts. On that basis, I won’t be selling my stock for anything less.

As for people like Lord Ding Dong, he’s dreaming if he thinks he can buy Dubber for mid .50s anytime soon. The road ahead is looking good and there should be a positive result coming out in a week from now with the 4C. My prediction is that Dubber will have close to 80,000 users on board with revenues up accordingly.

GLTAH.

Wiz