Ann: AHI Receives Deficiency Letter from NASDAQ, page-6

I just spoke with Vlado to ask what the announcement meant and he explained that the company was told at the completion of the audit that it wouldn’t be able to lodge it 20-F financial statements on NASDAQ with the a qualification statement. Which related directly to the investment in Triage. The company impaired the entire US$3m it had invested at the year end 2021 audit as the company was unable to provide sufficient information due to market conditions regarding the valuation of Triage and the justification of the valuation AHI entered at with Triage. To reverse the impairment AHI was required to seek an independent valuation of Triage. This has now been rectified and will result in a substantial positive change in the last two audits. AHI put the information regarding the many millions of dollars that would be put back into its financial statements in the ASX release. But unfortunately the ASX would not allow those numbers to be in the announcement. Vlado said they will release a further announcement once the 20-F has been lodged explaining the amounts that will be reversed in the previous audits. If it wasn’t for the need to have the valuation AHI would not have fallen out of compliance.