Phunware Inc (PHUN)

[Phunware]

From a shareholder conversation with our CEO in another forum.

"Sadly, I don't think many people here have any idea what you are talking about. A shame though. You are right. We did $31M in GAAP revenues last year and finished 2018 with more than $25M of backlog. We expanded gross margins by more than 2000 basis points YoY to a blended gross margin average above 61%. In parallel we dramatically reduced our net loss per share by nearly 70% and have remained debt free. All of these boards don't seem to pay any attention at all to what the company actually does or who it actually does it for. Some day they will though. In the interim we have much work to do. Our efforts to be a bit more accessible when we can seem to be unhelpful as we thought that having Randall and I engaged when possible directly with shareholders would be well received. We even filed an 8-K to allow more of these kinds of interactions through social media and elsewhere. Seems that most do not want to have such conversations. As we always say, we get out of bed to be successful. The operations of the company over time will dictate that. This is all just interim noise. Have a great evening and my apologies for directly engaging in a few conversations."