Ann: Fourth Quarter Activities Report, page-39

Most things in business with physical products take a lot longer than anyone expects and many just die slowly and never make it even if a better product. There is no golden pathway to product or ASX sucess

I'll quote a friend who had been both a senior academic and Head of Research at one of Australia largest industrial companies.

- "A small company would have to be completely insane to get involved in university research project".

In fact 15-20 years and $100+ million is nothing unusual to go from the laboratory bench to a viable commercial product. The success rate is typically <1%.