Ann: Positive Engagement Meeting with US FDA for MEB-001, page-4

Over halfway through Phase 2 trials. The new restructured board and management are delivering as they said they would.

Considering this is a software plug in to sleep centres with almost zero COGS, the economics of this type of medical technology play is alomst unrivalled.

If FDA approval is given, the company has a clearly defined moat, with a large TAM see exert from above ann(FDA clearance would unlock a significant market opportunity for the Company. It is estimated that 60 million people in the US suffer from poor sleep quality1 and that 75% of people diagnosed with depression suffer from disrupted sleep patterns) and a product with an amazing GP margin.

Seems pretty good value at a MC of only $13m