Honestly, I hope we have some good news in the next 4C or the...

Honestly, I hope we have some good news in the next 4C or the subsequent one and the price doubles or possibility at best gets up to around a $70m market cap but I am not thinking this will be a 6 month play if I am being realistic. It may double if the market sees continuing sales improvement but I am thinking the market will wait to see break even, solid sales out of Europe or another significant JV announcement before the stock rerates. The real potential upside would be if the clinical data continues to be solid and they gain Chinese market approval around 2024 as that is when it is most likely a Menicon, J&J or Coopervision make an M&A or significant JV play. We might get offers on the table before then but given the company has raised close to AUS $100m I do not see them getting offers significant enough to be recommended by management or the large shareholders prior to around 2024 or maybe 2023 at the earliest. They will be awaiting the product having a reasonable enough market penetration and global approvals that it would make sense to do a trade sale to a larger player if the money is right. I am not clear what will be the right money given most of the large players have other divisions but you would think it would be multiples of the capital invested.