Ann: Appendix 4C & Quarterly Activities Report, page-2

20% of the market cap is cash with 10 months of burn assuming no further cash is raised. IIQ has an amazing pipeline of cash cow generating assets for the early detection and monitoring of cancer. Even at 10% exposure to the breast cancer diagnostic market at an indicative cost of $125 per test, IIQ will trade $60-70 a share assuming a PE of 15. This estimate doesn't even include prostate and ovarian diagnostics. There is still a little bit of runway before liftoff but looks appealing.

I was looking at market depth today which is not the greatest indicator. However, $100k buy at market would raise the price of IIQ by 30% (no sellers) but $100k sell at market would only drop share price 4%.

What is not to love?

The lack of hTERT sales isn't necessarily a bear point. All over the world cancer screening has declined so it makes sense that previous unused inventory is being used. IIQ only supply the hTERT to one supplier in the US and a few minor places in the EU. Market penetration of anything new in the med-tech space is difficult in the current climate since most hospitals and organisations do not allow visitors.