Ann: Investor Webinar Presentation, page-59

Yeah, I get where you’re coming from. The disconnect between the underlying activity and the share price is frustrating, no doubt.

In my view, it comes down to trust—both in the story and in management’s ability to deliver consistently. The market’s been burned before by previous management, and that damage doesn’t get undone overnight. But to be fair, I think Nigel and his current team are doing a great job of getting things back on track. It’s just going to take time and consistent execution to shift sentiment meaningfully.

Right now, it’s mostly retail holders and one meaningful institutional investor left on the register, with very little liquidity. Until the company can start stringing together consistent commercial growth and gets proper broker coverage back on board, it’s going to stay tightly held—and unfortunately, vulnerable to being walked down.

That said, I still believe that once revenue starts flowing more clearly—especially from G-BA sites, post-trial conversions, and commercial uptake at trained hospitals—we’ll start to see sentiment shift. The building blocks are being laid, but yeah, it hasn’t translated to buying interest yet.

I’d also add that the OSLOB options and the ongoing risk of another capital raise might be keeping some investors on the sidelines—and potentially adding downward pressure from those who have a vested interest in seeing the price lower in the short term to gain access at a discount.

That said, you never know—we could also get an announcement out of left field, like a strategic partner in Asia, that changes the dynamic overnight.

Happy to hear what others think.