Dear FTW101,

Thanks for posting here and thank-you for being such a long-term PATIENT holder.

I cannot comment on the share buy back program, but you are right, at these prices, and on the back of recent news, one might see this as an interesting time to do so.  I definitely do.

With respect to there being no end in sight I would suggest that you look at the increase in backlog which has increased 500% Q3 over Q2 2019…which doesn’t include a $13MM navy contract on the horizon.  Now that is improvement and at least some visibility on future results, no?  You have to book backlog before you can book revenue…

Why hasn’t the share price followed?  I have some suspicions, but I truly have no idea why on the back of recent news the price should fall so much.  What I do know is the backlog, once it turns into revenue, will calm all nerves…

With respect to providing timelines, I have given my view on that countless times. I am committed to give my shareholders the advantage of knowing what is happening and I expect them to take it in the context in which it is given.  There are others that are privy to the news and I don’t want my investors being taken advantage of. You see, I am trying to protect my long-term shareholder interests. Of the over 2,500 investors we have it is only a hand few, less than 30, that don’t like my estimates, mostly day traders. The more sophisticated funds and long-term holders tend to like the reporting.  Of note, there are many cases where we have been ahead of schedule, but that goes unnoticed (like the Swedish torch deal for example).

Anyways, I hope this quick overview helps.

Peter