I think that's the right way to think about - way too many options being issued/have been issued/will be issued on this capitalisation journey for a lifetime changing return potential that everyone seems to think is on the table at some point, that aside, a reasonable return could still be achieved if they hit milestones as you say out to 2025/26/27. Time value of money balance though really kicks in on this one.
Ann: Anteris to Present at Cantor Healthcare Conference, page-34
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