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[Bobwins]

SIM.v/SYATF

Just listened to conference call. Interested in details about upcoming sales of the new device. Sounds like Bell Canada will start selling in December 2018 while the US cell operator will start in Q1.

Someone asked about capital required for a ramp up. CEO says any sales thru these big cell companies are financeable and with the high gross margins on the product, Siyata won't have to come up with much capital themselves. So he feels ramp up will be sustainable without a major capital raise.

Another point he made was about the opportunity for cell companies. He thought originally this would allow them to seek out new customers. After talking with them, he has found that they are excited because this is new opportunity for them to sell to their existing customers. They already have some cell business with XYZ construction company but only for rugged phones and regular cellphone service. Now they can sell the UV350 to their fleet drivers AND include different groups of employees that can all be addressed at once in group calls. Also there is lucrative software that can be sold to the customer. These are all existing clients so they don't have to engage in cutthroat competition and lure away customers with lowball offers. So the cellphone companies are very excited to be able to offer the product.

Someone asked about upcoming competition. CEO said there is no current competition. Siyata is looking at tens of thousands of units. Samsung or Sony is not interested in tens of thousands of units. They want millions. They are not going to invest several years of R&D to build a device that sells 100K/yr. He mentioned Chinese companies. They like devices that can be sold directly to the public. These devices have to go thru long approval processes, they have to have expertise to help the customer install and use the devices. Knockoff electronics manufacturers won't be excited by this opportunity.

Another source of competition might be a startup. CEO says it has taken them 7 years of mistakes and hard work to get this far. New competitor will likely make some of the same mistakes and will take several years to get to this same point in time as Siyata. So he feels they have a big head start.

How about end user feedback. CEO said they have tested the device with a large Canadian end user. Customer was very pleased and is in line to buy as soon as the UV350 is available. The unit performed as advertised.

What about inventory obsolescence? CEO said they took a writedown on old inventory last year. Won't happen this year. Still selling existing inventory. Also there are only two sku's of the UV350, a European version and North American version. So not a lot of different sku's to worry about.

Overall there were no questions that gave CEO pause. He answered in rapid fire and has clearly gone thru these questions internally many times before. He emphasized that the cell companies are extremely excited about this new revenue opportunity for their existing customers.

Very positive call.