Crunch Time, page-18

I was the last questioner after Brent's presentation.

My question was: "Given that sales are required to drive the company forward, can you provide some color around how negotiations are proceed with distributors in the US and Europe. Secondly, what can you report about Incubot.

The answer re distributors was almost pracee what we have heard before.  Not worth repeating.  Incubot answer is below in my notes.

Here are the notes I made during Brent's presentation:

- Same presentation slides we've seen.

- 510k and first instrument into US at very end of 2018.- Aust: 6-12 month sales cycle at least.

- Distribution margin: 1/3 of $300k

- LBT receives 75% of s/w licence.

- Euro & US distributors: need reference sites first.

- Incubot: not fiscally responsible to work on in parallel.

- Distributors won't commit till it's proven as a successful product. Kinda expected. So LBT, through CCS, have to place machines with end customers to prove demand. (Me connecting the dots)

As a humble retail investor, drinks after the last day of the conference made me feel like a pilgrim in an unholy land, surrounded by 708s and CEOs making pitches. I stepped forward as BB was about to leave and introduced myself. He knows me now and my name rang a bell with him from prior emails. He knew I was a long term holder and that seemed to hold weight with him as he was willing to engage with me one on one for an extended period of time. On the basis of that conversation I am more inclined to not only remain a holder but return to being a buyer.

HTH.