Ann: ANO Update, page-16

For new comers to ANO, congrats and welcome on board.

I have shared quite a fair bit on ANO fundamentals.

ANO current production is less than 4% of market share before FDA ruling. providing superior products and low cost.

supply reliability and ability to scale up to meet customer demand is proven.

capex is about USD 130k per oven for 400Mt per annum. last known ASP is AUD 40/kg.

I don't trade this business, it is good for long term holding. Lev have the foresight to invest in 2007 from 0% till 45 plus%. is not like founder that start the company and list it to cash out. Lev use his hard earn money to invest in ANO and become the largest shareholder.

best part is, I like the product. It is helping mankind to reduce the suffering of chemical sunscreen product's which is linked to skin cancer.

any short term fluctuations is a opportunity to accumulate. Mr. Market is to serve you and not to instruct you.