Ann: Annual Report to shareholders , page-2

I'm sure everyone will at some stage read the report released today. I wanted to draw people's attention to 2 things that I didn't quite understand, which I hope others may have a better idea about:

On Page 11 at the bottom it reads:

'Analytica recently filed for a provisional Australian patent for the AutoStart burette, and intends to publish in multiple jurisdictions in coming years under the Patent Cooperation Treaty (PCT). The innovation sets the correct vent and clamp controls for the AutoStart, AutoFlush, and standard burette functions in a single, simple controller. The invention dramatically simplifies use of the device, which has been one of the main customer concerns. The invention also reduces part count and can be implemented on standard burettes as well.

Because of the potentially game-changing nature of this invention Analytica's priority is to implement this innovation as soon as possible. Development of the invention concept into a fully-engineered, validated production feature may take 9-12 months. '


Does this mean they are 'reinventing' the burette again and it will now take a further 9-12 months. Does it mean that all the hospital trials in QLD and NSW were wasted as they are now altering the product that was/is being trialed?


The second point that I would like to draw people's attention to is found on page 13. It says:

' 33,000,000 $0.05 Options granted to directors in 2008 expired on the 30 June 2012 were not exercised.'

I presume this means that the directors chose not to buy the shares on offer to them at 5c? I know no one has endless amounts of money, but this would have been good if the directors had bought shares at this price. It would have given us share holders more confidence that the directors truly believe the share price will go higher than 5c in the future.

What does everyone think of these issues and the general report overall?