Support Levels, page-16

Many thanks, Gralynchett, but one high question on ur central assumption: how does your delta go from 119% to 20% it is a very bearish growth forecast of yours? The developments have been quite positive & 20% would be a failure of the distribution, takeup, represent a consumer led avoidance & not augur well, it might be that CDC & other disease controllers in its other markets don't care about glutaraldehyde or sodium hypochlorite & prefer substitutes.

AUD/USD FX rate changes were not uniform this half-yearly & sales might not reflect the 2.88% change using the averages: the AUD/USD was more sticky until the very end of the 1/2 year (sales go on the usage on average (even disinfection/ sterilisation: in this case, use of Trophon).

Anyway, I would think at least 40% growth is achievable based on presentations, 2013 figures, CDC developments since half yearly 2013 & other deltas for similarly correlated biopharma stocks although disinfecting/ sterilising ultrasound probes r a little different to ur standard biopharma sales company. Trophon is incomparable in the sense that it is affected by CDC, disease monitoring in private/ public hospitals, CDC regulations.

GE might be a natural acquirer of NAN IMHO but DYOR. Depending on their knowledge of the Trophon takeup, they might make a bid for NAN after MLK Day (this year. MLK Day is Jan 19, tomorrow) when management get back from Aspen & Whistler. Execs would try to avoid sprained wrists walking round Cleveland/ slipping & sliding all over Ohio where GE Healthcare makes its' calls, so it will be a week or so maybe. If not, they miss the boat as the SP might get expensive if sales have rocketed again.