Hi kenny, just some quick notes/commentary... - in stl books,...

Hi kenny,

just some quick notes/commentary...

- in stl books, neoicp fair valuation in 2016 accounts was $2m....
- in neo's books, the net assets at 30.06.16 was 17.2m (stl owning 11.28% of that), making it $1.95m in net assets.
- in neo's books, the net assets at 30.06.17 was 16.7m (stl owns 11.28%, being 1.883m
- todd mentioned the other day that the shares in the company had gone from $600 to $2000 per share over the last two years....

so the net assets in the books of the neoicp company haven't changed much, but, the underlying value of the shares has.... this change and pricing can obviously be to do with potential, future profits forecast, and a whole lot more market factors.... the heading of the last announcement indicates that todd and co have revalued the shares up in our 2017 financials.... as to what, well, we'll have to check the notes etc when released.

we very much could sell the shares if management wanted to, i know todd has indicated previously that they could easily sell at market value should they wish. but, up til then, they believed they were worth more to them as is, than cash in the bank.... it probably does help us stay aligned with Neo etc, but, i didn't really go into the details with him.

naturally, the market to sell the shares wouldn't be as liquid or readily transparent...

of course the exchange rate/currency conversion between the KRW and AUD effects the NEO results as reported in AUD also.... I believe this has lowered the results reported for NEO (in AUD) this year...