Ann: Revised Continuous Disclosure Policy, page-50

Not really.

Basically, BIT is broke. Financials are what keeps a company afloat - it cannot be ignored.

BIT has about six months of funding. It has no income and no evidence that it can tap into another income stream. The options windfall will not be recognised and that is a huge blow for BIT.

Any future CR will be discounted, and I can see the SP deteriorate after the AGM.

Yes, I do have a financial background, and I see things in that light more than you would perhaps. I have seen companies in a better financial position fail though. BIT's financial woes are quite dire.

While trial results did meet objectives - it did not meet expectations. The main reason why third parties have no interest in BIT225 at the moment. Yes, that could change but there is no evidence that BP is finding any value in BIT at the moment - and no evidence that BP has any future interest either.

Of greater significance is that BIT have yet to outline future endeavours - outside of an oblique reference to Dengue fever.

So, basically, a research company without a research pathway and only enough funds for maybe this financial year. No research = no R&D rebate so, no saving white knight later in 2025.

The science can be quite compelling, but we all need to look at the company's other attributes and weaknesses. Company's with great science have still folded.

Not a great position to be in for sure.