Ann: Medibio signs first commercial agreement for its Corporate S, page-17

10k+ employees at $100 a pop is $1.0m+ in revenues. As their announcement 2 weeks ago there are another 3 corporates in the wings. If they are similar or larger in size and all move towards a full rollout then by early next year MEB could be on annualised revenues of $4.0m+ which should be sufficient to cover their ongoing costs for now and maybe produce some modest positive CFs, given the FDA trial costs have been paid up front.

The non-FDA/approval commercialisation routes makes MEB a different kind of medical device company as we are unlikely to see massive dilution along the way to getting to the end game.