"Toot Toot", page-215

Hi Ajax , in short, This company has been through a lot, different management has dabbled in ilfated projects , EG, Infusion devices , imunotherapies or vaccine, Australian hopital supply chain, arterial vein patches etc. In and of themselves the technologies were very good, but the management did not have the connections or ability to bring to market what they produced at a scale that was sufficient to continue as a going concearn. Along came Wayne Paterson with a great idea to bring the patch business to the world stage and take on the world. Unfortunatly after throwing loads on cash at it the desired outcome was not achieved so the donkey was flogged off to the highest bidder, all other nonproducing assets were jettisoned before or post said sale and management refocussed on the one asset they had remaining , the Heart valve product.

One of the problems with thsi company is its past, this from 2016,
The Company will also undertake a 1:9 renounceable rights issue of ordinary shares at
an issue price of $0.33 to raise a total of $18.3M (before costs). Shareholders on the
register at 5pm (WST) on 15 August 2016 will be entitled to participate in the rights
issue. More information regarding the rights issue will be set out in the Prospectus, to
be mailed to eligible shareholders in accordance with the timeline below. Patersons
Securities Limited acted as Lead Manager to the Offer.
Admedus Chairman and Interim CEO, Mr Wayne Paterson, commented: “This capital
raise will allow us to continue our current strong sales growth and roll-out additional
products into the cardiovascular markets, whilst implementing our corporate strategy
of tighter expenditure control. The completion of this capital raise, in addition to the
implementation of our recent strategic review, removes any concerns about the finances
of Admedus and places the Company in a very strong position to achieve sustainable
profitability for the 2018 financial year (if not before) and beyond.”

Do yourself a favour and have a look at the Anteris web site under ASX Announcements.

Statements have been made that indicated financial health that was not or could not be acheived.

The blessing of failure is that you can learn from it,( especially when you rake in $600000 a year irrespective of the outcome and have very little vested interest in the company you run), and Wayne and crew have refocussed onto a product that has far fewer impediments to market , honeslty a massive need , seeing that bloated Americans are ruining their hearts at an ever increasing rate ( and for the sensitive , Bloated anyone ).

So the upshot is here we are in a new world for AVR , Bagage jettisoned , a bit of cash in the bank and once again a great product or 2 and promise for the future.
The bottom line with this one IMO is as with all ASX companies , dont bet your house on it , get professional advice and if Wayne can pull this one off there is going to be a lot more value here.