AGM, page-312

I agree and because we are developing some engineering capability in Infusions this will add to the value over time.

So when you do a sum of the parts calculation as we have done before you can see the combined value of the company.

What is the TAVR project and unique patients now worth?

What could Infusions with some of its own tech be sold for in day three years?

What is the 3D portfolio worth? Well we know it’s has revenue potential of between $200 million and $400 million (not blue sky) and does not include new products.

What is our Bio manufacturing facility worth?

If we have success with HPV trials and the Astra Zeneca collaboration who knows the Immunotherapies business could list for between $100 and $200 million in 2021 and we could take a third of that out. I would also argue that this business is now derisked for us and free blue sky going forward. (although I know we have paid heaps in the past for it.)

If 4C Medical gets FDA approval how much is that deal worth? Remember that the TMVR market is 2-3 larger than TAVR and will be a 10 billion dollar + market. This alone could be truly significant to us and not really appreciated by the market.

We have some other projects on the go that no one knows about either - who knows what they could be worth?

So all in all if you can see the big picture you understand that Admedus is choc full of value and optionality that can be realised in so many ways moving forward over the next 3 to 5 years.

We now have the experience, management, deals, business plan and the capital to kick on from here.

Onwards and upwards

Exciting times ahead.

DYOR and Not advice.