AM Musings

I have just attended my third AGM. There were differences, yet similarities, some good things, some not so good, but nothing bad or terminal.

Jef is a good presenter, to some 40 people. maybe 8 -10 hcites were there.

Overall feeling: solid progress, financing issues continue but there is now a plan, and a finite limit to these.
Bergen...not the villain we portray them to be. Grilling about lost capes was very unpleasant for the board, and the feeling amongst us was that the legalities re the seller/asx notification is one thing, and there may well be a loan(our guess) out there somewhere that they are (not totally) "unaware" of. But investigation and formalities leave them with an official position, leading to stonewalling the answer and RM looking to other board members for rescue. Lip zipped, but definitely not happy in the spotlight.. Top 200 asked for, will be looked into, hopefully a regular feature. This might put some light on the subject over time.

Finance obligations upcoming are vendor 6monthly for 3 more years, 7 payments jan july, and 3m euro earnout in April. The aim is not to use Bergen, and that bergan in fact are "probably" not interested. Board keen not to use Bergen and are currently looking at how they fund the approx 3mE, and they have plan A B C and one is also complicated, and hush hush, but probably being worked on as of now.. So we may have some surprises in store for us, but complicated sounds like it might be good, so... Shareholders might even get offered a piece, at these levels they would be a gift. ( my word). So given the timing I would expect news on this front soon but if not by february.
They were confident refinacing package was a short term one off issue so once done we will be over this fiasco.
Other stuff, more important in my view

They are probably working on a POC Vit D test, would have leading test in market once released.
They are receiving a royalty stream from someone but no words on who, or size.
They have the only free Vit D test in market( old news)
They will soon enough have a number of unique tests which would enable "a brochure" and a marketing push for these clever / unique tests.Cook is cooking but it is still in R&D so Twin may be jumping the gun by a year or 3+ with revenue from this.
It looks to me like they can coat the wires in implantable hearing devices (read cochlear?) which means they stay put/bind to the body therefore not move and still conduct neural impulses, possibly this will improve the device so big dollars possible in my view here...., so there may be some collaboration announced here one day (soon?)

There was some talk of shareholder/broker presentations around the country in the future. Probably not Adelaide, but hey..maybe.

The post lunch meeting was good, GC was going to come but could not. The company has some excellent synergies and the reasons we invested are still there. We have a great acquisition in Diasource but a bad funding model, but we are probably over the worst of it. Bergen deal probably just done to tick the future funding box to satisfy an auditor and backfired...to say the least.

GLTA who have endured what i believe to be the worst year in this company's history with regard to SP, but the best year in terms of increasing the chances this company will succeed.