The market is not happy with NAN today. Very big volume. One...

The market is not happy with NAN today. Very big volume. One seller/buyer exchanged 2,500,000 shares at $5.6. You can look at this two ways: the seller view or the buyer view. I wish I was able to be the buyer.

The interim report is all about the Trophon 2 ecosystem. It is reaching 55% OF TAM in the USA. It is already over 75% in Australia. The foundation infrastructure is set in the EMEA. The EMEA is a tough market as compared to the USA because of each country having its own approval of purchase process and the lack of guidelines requiring HLD transducer reprocessing. Japan is ready to purchase. The infrastructure is set and the HLD guidelines are in the offing. Indonesia and Thailand have given regulatory approval. Malaysia is expected soon. China has good mention, but I am sure the fact that NAN is Australian is no help.

Access to hospitals has been an almost unsurmountable problem. The market gives NAN very little credit for doing as well as it did. NAN did develop an online channel of communication with hospitals. It is likely that this channel will continue.

GE stopped buying T2 as its inventory had grown. GE is now destocked and buying again. Q2 FY 21 witnessed the best buying of Consumables and Service on record for NAN. It is highly likely this will continue. Due to thisand increasing sales by Nanosonics' direct operations, total revenue grew 54per cent between the September quarter and December quarter. This is pointer for things to come.

The report was all about T2 ecosystem. T2 is alive and well. Theissue of upgrading T1 to T2 has not emerged yet. There are some 5000 TrophonEPR 7 years or older. IMED is replacing over 200 T1 to T2.

Scant attention was given to the new products. And thebrokers had very few questions on this topic. I did not notice that a new highlevel tracing device was mentioned that goes beyond T2. The new proucts are aFY22 story.

All in all a good report. Mr Market did not like it. If thevaccines eliminate hospitalisation due to COVID, the stage is set for an Augusthumdinger report.