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Certainly tonyj, I agree.

Looking through the bullet-points I hastily took down, during the presentation, I would say it is a significant step forward. Both stategically and logistically. And it should be econmically advantagious for all parties concerned.

A tweet from CyanConnode India, during November 2022, that also mentions Shimla, in Himachal Pradesh, along with some other information.

http://twitter.com/CyanConnode_Ind/status/1594923254971781120

LTI.

Good afternoon tonyj,

The $20 price-point per unit has been about for a while, as you have indicated. It would seem that the utilities and the Indian Government are, at the moment, willing to pay a premium price, for a premium product. But any utility or Government will want to negotiate for volume.

But it is a good place to start negotiations, going forward.

And it is good to see the $20 price-point per unit figure confirmed, in the presentation.

LTI.

..... is on the CyanConnode website.

http://cyanconnode.com/wp-content/uploads/2022/12/CyanConnode-Investor-Pres-FY23-interims-v03.pdf

LTI.

Good morning all,

Didn't John mention the UK Smart Meter programme, during the presentation yesterday? But it is good to see that CyanConnode are still spreading the word to the UK Secretary of State, Kemi Badenoch, even though CyanConnode already have a contract for the UK Smart Meter Programme.

Well done to all concerned.

LTI.

.... has tweeted:-

" Our MD & CEO @RGarapati had a coutesy meeting with UK Secretary of State for International Trade @KemiBadenoch. The discussion was around how @CyanConnode has been playing a critical role in the #SmartMetering journey and helping GoI realise its vision of Smart connected #India."

http://twitter.com/CyanConnode_India/status/1603342780863946752

LTI.

No problem jake. You have your opinion and I have mine.

But I do not think that CyanConnode are still in the position to " ...... sell initially at a low margin to get into the market place " as you put it.

With the potential for multi-million Smart Meter tenders, over the coming months/years, I can see CyanConnode negotiating a more competitive price per unit, from its present level, because of volume.

But the starting point at the moment, has remained, I believe, very positive.

A lower price per unit, for volume, is still good business. And still requires negotiation. And it is better to negotiate from the position I believe CyanConnode are in, than from the position of " .... very low margin to get into the marketplace."

That's my thoughts, for what it's worth.

LTI.

Nothing directly tonyj. But as it was mentioned that, I think, it was a " Standards Committee " that CyanConnode are party too, it could suggest that the Company is part of a group of people/companies that are " .... advising ..... " in some way, on the Indian Smart Meter rollout.

Just a thought.

LTI.

Good afternoon jake.

That is just one of the many differences between us, jake. I believe CyanConode have negotiated themselves into a strong position with there Partners and also with the India Government Smart Meter rollout programme. And have been/are going through a similar process, with other global markets.

As an investor in CyanConnode, I do not have a foot in two camps.

LTI.

No problem tonyj,

When you look at the overall payment structure and include the MENA payments " ..... prior to delivery ...... " I get the feeling that the idea that CyanConnode " ...... has to take whatever its offered ....... " is a long way from what actually happens.

At least I think so.

LTI.

Accounts receivable:-

" A total of £4.5m cash has been collected from customers during the period ( FY22: £3.8m ) and a further £2.3 million since the period end. Receivables for new contracts in India, signed during the period and going forward, are expected to be received earlier than historically due to a change in the business model, ( payments that were previously milestone based will now be received in Equal Monthly Installment ( EMIs ). Contracts in the MENA region require payments prior to delivery."

It is interesting that the MENA regions are still at the moment, paying on a " .... prior to delivery ..... " basis, which also sounds very acceptable to me.

LTI.

Cash:-

" During the period cash was utilised to purchase stocks of long lead-time components to support delivery during the remainder of the financial year. Stock of 350,000 long lead-time components were held at period end, to ensure H2 FY23 deliveries are met."

So, a considerable investment seems to have been made by CyanConnode, in the purchase of long lead-time stock being held, which to me shows a sign of confidence.

LTI.

Revenue and Operating Costs:-

" Revenue for the first six months of FY 2023 was in line with management's expectations. With orders having been won in India for 1.3m Omnimesh modules and associated products during H1 of FY 2023 and large orders being won for other regions, the Company expects a significant increase in revenue during the second half of FY 2023. The increase in operationg costs was mainly due to the growth of the business and increaseing inflation rates."

LTI.

Post-Period Highlighs:-

- £0.5 million raised by way of a share subscription.
- Revenue for quarter ending 31 December 2022 expected to be three times higher than the first half of the financial year.
- Revenue for the financial year ending 31 March 2023 expected to meet market forecasts.
- Cash collected from customers since the period end of £2.3 milllion taking the cash received for the nine-month period to £6.8 million.
- Cash at the end of November 2022 of £1 million.
- Current tenders in India for circa 75 million smart meters following the launch of the RDSS Scheme.
- £1 million worth of components purchased to meet current orders.

So, some encouraging news about the number of Smart Meter tenders available, seems to have increased, which is always a good starting point and confirmation that the CyanConnode share of the installed Smart Meter base, at the moment stands at 25%.

LTI.

Good morning all,

The Financial Highlights reveal that revenue figures are down, from the same period last year, which is probably a consequence of the new Contracting Framework Agreement payment scheme.

Operational Highlights:-

- 1,000,000 Omnimesh RF Modules from Genus Power.
- Two orders won from IntelliSmart.
- $6.7 worth of orders won from MENA.
- Further orders won from MENA worth $2.5 million for Cellular Gateways.
- Omnimesh integration for 9 new meter types in India,
- RDSS approved by the Government of India.
- Power Distribution Companies in India ( DISCOMS ) empowered to release tenders under RDSS.
- CyanConnode's technology aligns with RDSS for network communication and management.

So some encouraging contract news during this period.

LTI.

........ have been published.

http://polaris.brighterir.com/public/cyan/news/rns/story/rnlvqnw

An encouraging set of results, I feel, with potential for further growth in the coming few months towards the end of March 2023.

LTI.

Good afternoon all.

As I understand it, during June 2022, the EU agreed to ban/limit the purchase of Russian crude oil, from December 5th, 2022. The EU discussed limiting the price they were willing to pay per barrel, this week, to $62 per barrel, but three EU countries refused, as they argued that the price was to high.

So as all nations try to navigate through this difficult, political situation that we are all in, while still trying to keep all forms of transport moving and homes kept warm, during what will be a very difficult winter, let us hope that the dicision makers get the difficult decisions right.

Good luck all.

LTI.

...... has tweeted:-

" #Bihar is leading in the rollout of prepaid smart energy meters in #India. CM @NitishKumar inaugurated the next phase of #SmartMetering in the state and @CyanConnode is proud to be the communication partner for 1M ~SmartMeters in #SBPDCL. @BiharEnergy @EnergyBihar @Sanjeev_hans97 "

http://twitter.com/CyanConnode_Ind/status/1599648750431277056

It is good to see that the new contract in Bihar, for CyanConnode, is progressing.

LTI.

No problem tonyj,

There was initial interest, some years ago, from independent utilites/companies, for RF technology, despite the initial cost outlay, as compared with cellular. These independent utilities and other companies, coupled with the success of the early Cyan(Connode) projects, I would say influenced the Indian Government and other utilities, to change their opinion of RF technology, overall.

The new Contracting Framework Agreement, recently introduced for the Indian Smart Meter Roll-Out Programme, allows the utilities to spread the initial out-lay, thus hopefully contributing to gradually paying for the o/a project, from any increased contributing revenues, from recently installed smart meters.

The approximate " 80%/20% " split ( 20% being the approximate CyanConnode contribution to the installed smart meter base, at the moment, in India ) confirms the advances that CyanConnode has made, over the last few years, so far.

All in my opinion, of course.

LTI.

..... also have an interest in Del Monte Foods, which I am sure we have all come across, at some time or another. But a varid mix of companies, are involved with the Bharti brand.

Interesting company.

LTI.

..... Company information:-

http://bharti.com/our-company-india.html

LTI.