Hello Francis,

Thanks for the business and tower update. Looks like positive progress.

If I understand correctly, 3.8 million USD have been spent on the construction of about 150 towers so far.

If I have calculated it correctly, Nuran has raised or borrowed about 16 million USD so far. 

How can it be in the interest of shareholders (retail not debenture holders) if 75% of the money received is not put into the core business to close the gap between revenues and expenses as quickly as possible?

I would also like to understand in more detail what 38 employees in Nuran head office Canada add in terms of value and what Nuran will do in a timely manner to reduce monthly expenses that are not focused on tower building to counteract the coming extreme dilution of the sharecount?

Please don't get me wrong. I knew that it will be a long way to suceed. But the short term future doesn't look really good for all long term retail investors.

Thx in advance for your feedback.