Ann: Appendix 4C and Quarterly Activity Report, page-27

" I am sure PEB's royalties will assist CDY's profitability."

My uneducated gut feel expectation is for a royalty in the vicinity of AUD800K to AUD1.5m landing at CDY of the current year.

The market does not understand that cystoscopy isn't an available or preferred option for a very high proportion of US bladder cancer patients. Their only other choice is not to monitor their cancer. Nothing wil improve in the US until Biden takes over in January and even then it will take months to co-orordinate an effecive COVID response.