Ann: AGM Presentation , page-20

Hi
Was at the AGM today and great to put a face to all the Adorites. Unfortunately I could not stay for a few beers after, however as said previously - all looked normal, intelligent and good bunch of blokes.
Only have time to post a couple of my highlight from the AGM.
- As seen in the presentation alot of discussion on some of the technical/decision obstacles experienced in closing deals
- Still NO companies have said NO
- When Geoff was pressed on Ebio estimated revenues - interesting that Mark Bouris encouraged Geoff to give a perspective - with my take being that we are not certain on the sales volumes but based on estimates revenue will take ADO to cash flow positive +/- 50% based on timing and volumes. Very encouraging and MixnGo has been shipped in September so revenue hopefully will start flowing quarterly shortly.
- A lot of discussion on how to move company from a scientific focus to better understanding ales process, decision makers etc. - Mark Bouris appears to be offering alot in this space.
- Discussion about finding a heavy hitter in US/Europe market to open doors at C-level and help drive sales process top down / from the side as opposed to bottom up from the technology.
- Resourcing levels to support pipeline also discussed with MB saying that his preference will be to go very hard at a few deals
- Also discussion about how to price deals around exclusivity or first mover advantage to get signings quicker. All these options are being discussed at the board level
- Tina B was in the audience today.
I left feeling that patience is the name of the game. The company is learning and adapting to align the great technology into a leading sales/distribution business however still some way to go. Signings could occur at any time.

Cheers

TC