Ann: Admedus enters distribution agreement for Spain, page-45

Hi Joe,

It's good to see someone has got the finger on the pulse and is looking in the right direction because others are completely lost and bewildered with the Capital Raising. It is very easy to work out why a CR was the best business move till present date. SH's will eventually see all this down the track.

Going back to the AGM 2016 was one of the best presentations that I have ever witnessed from a CEO, WP gave a blueprint of the road ahead, even lining out percentages of market share that ADMEDUS should capture. But back then the projections for the future was all based on the flat patch, so, it wasn't until I believe, March/April 2017, that something amazing was happening at ADMEDUS and all of a sudden we had a '3D Curved Patch'. This will go down in history as a defining moment that changed the course of all Bio Implantable devices.

Starting with the 'Aortic Curved Patch' which has practically got the market all to itself, VascuCel has put in a new patent for a curved vascular patch, let alone we have a TAVR in the pipeline which is a moulded one-piece valve that mimics the original valve you were born with. Now all of a sudden, after the AGM 2016, ADMEDUS is now the 'FIRST' company in history that mimics the human body, in other words, Welcome to the Curved and Moulded world of ADMEDUS!

So what is obvious is that all this new technology all came to be after the AGM 2016 speech, so considering the ADAPT platform and how many products are in the pipeline then the way management slowed down the release to make sure they had enough information from the top surgeons and making sure every operation is done to satisfaction, all the costs for this entire technology and products were not even considered at the time and WP isn't about to sit on his hands and start whining about a CR.

PS: That WP is one 'COOL CAT'!