Ann: Ovens in Production Trials, page-12

I just went back to look through my notes from the last shareholders meeting. This is interesting - and bodes well for volumes continuing to crank capacity into next financial year.

“Distribution
There was talk about the new European/French reseller, Unipex who replaced Masso recently. Apparently Unipex is already locked in to an exclusive agreement with an ANO competitor until June 2019 which is why they have only been able to enter a non-exclusive agreement with us. However, Unipex love and prefer the ZinClear product and so are currently in the process of formulating new end-products for their customers using ZinClear in anticipation of the expiration of their supply agreement with the competitor in June where they will sign up with ANO and volumes should dramatically ramp up at this point. Given EU revenues for ANO have only ever been around $300k there is a huge opportunity for growth here once this kicks in. EU has previously been estimated as 2-3x the market size of USA which is where the bulk of our revenues come from currently. The board made the comment that "Unipex are already shipping quite a bit" - so I expect these volumes will add some immediate huge revenue upside for us.”