Ann: Quarterly Update and Appendix 4C, page-63

Last time we saw 30c was when we had no inkling of how unreliable the "standard" test is in the USA for some of our key target conditions.  We all saw plain sailing from trials to FDA approval.  We thought:

1. USA trial results would be in line with Australian validation results, which would mean
2. all targets would be comprehensively hit, which would mean
3. slam dunk FDA approval.

And even with all that optimism oozing out of every pore, the share price had been pretty much range-bound between 30c and 40c from January 2017 to July 2017.  Now that we are all so much wiser and sadder I don't think there's any possibility of such exuberance.

I think it's unlikely that we'll even see 20c again until we have news that the FDA submission has actually been lodged.

To get to 30c I reckon we'll need FDA approval.

Excellent sleep apnoeia results might add 5c to 10c when or if they come.

A clear and credible plan-to-revenue for sleep apnoeia might add another 10c.

Once (or if) we get FDA approval and we have the pilot integration project completed with the German hospital, I think we'll be ready for a clear and credible plan-to-revenue for ResappDx, which could add 20c or so.

So if everything goes according to plan, and both ResappDx and sleep apnoeia develop as we expect (and hope) I believe we could be looking at something line 75c in March quarter, 2020.

To take it up from there I reckon we'll need to see revenue.  If we do then we're all going to end up laughing at @SPP1992 for wanting only $1 on a takeover.