Ann: Appendix 3B with prospectus, page-29

Leveraging Kentgrove is one more step along the way to commercial sustainability. It will probably have a negative effect on the SP, but wii provide the necessary capital to move MSB beyond some of the important milestone this year which may result in positive cashflow and/or a partnership for further product commercialisation. Regarding partnerships, I see one of two scenarios in play. 1) The science isn't there and therefore neither are the partnerships, or 2) The science is there, the board are confident they have the science, the partners are there, but the board isn't prepared to give away decades of hard work and IP to solve short term cash flow issues inherent in tech startups. (Yes I consider MSB a startup when it takes 10+ years to take products through the trial process to commercialisation). I also considered the 'going it alone' scenario but MSB is going to need a sizeable war chest even from this late point in trials to take products through to global distribution at scale. So which scenario is right? You won't find the answer on HC. DYOR and reach your own conclusion. I'm holding, but I'm not accumulating as even after consuming as much info as I can find, my crystal ball is still a bit foggy on this one.