Body armour, page-31

Hi Edd

I regard the total addressable market as the the total potential market size for Alexium's product i.e. that is if pretty much every single bedding manufacturer were to use Alexiums product.

It is however unlikely that every single bedding manufacturer will use Alexium. We have captured one of the top 2 manufacturers, but its potentially unlikely that will will capture both for instance, possibly due to manufacturers seeking differentiation of features in their mattresses and the availability of other competing cooling tech. Some manufacturers are happy to accept a cheaper cooling tech for instance (which has been the case before)

I think what Derek was referring to more was that we will have likely captured as many customers as we are likely to within 18 months - be that 25% or 40% or ????.