Ann: Appendix 4C & Quarterly Activity Report, page-23

My take on Quarterly report and stock price.

1) Kudos to IBX for confirming yet again there is not likely to be any delays...so trials will hopefully start in 2020. Also nice to see they have mentioned a full pivotal study after phase 1 trials. That means their confidence on the success of phase 1 trials must be running high for them to start planning on a full pivotal trial for commercialisation. In my opinion phase 1 trial will be enough to indicate whether the technology works or not, if its successful then that will get the ball rolling for IBX to step into a billion dollar industry. If phase 1 fails, no point sticking around, that will basically be the end of the company. They are also hiring new personnel, so they seem pretty geared up and ready for the inflection transformation that is expected in 2021.

2) In terms of charting I have stopped looking at the daily or weekly. Its obviously in a downtrend. But its also trading in a channel for months now, so its pretty boring to analyse, considering it hasn't done much in the past month. IBX is a pure retail stock, with most of the daily trading happening between retail, so any macro conditions in the overall asx will affect IBX greatly, bull conditions in ASX will mean more buyers for IBX, and bear conditions in ASX will mean less buyers for IBX, so in a way IBX is a kind of perfect stock for day traders and swing traders, easy to predict SP just based off macro global conditions, good for a few pips of profit for those who are pip traders. It will bounce back tomorrow as its usual pattern and then go on a slow downtrend again. Not expecting any uptrend anytime soon. Longterm view is that uptrend will happen starting from December, and then IBX will follow a pattern quite similar to DXB, slow and steady uptrend right until trial results are due, and then trial results will dictate whether we hit 50c or 3c.

3) One avenue of left field announcement could be Boston University whose research is directly related to IBX's technology. Personally, I don't think Boston University or any other kind of left field announcement is worth looking forward to or get excited about, simply because the phase 1 trial will ultimately dwarf any kind of left field announcement, I mean who cares about the cherry on top when there is a whole cake to be eaten. The company is working on a revolutionary technology that if successful will change the world of medical imaging forever, hence there isn't any sort of left field announcement that could be more exciting than phase 1 trial results. IBX is purely a binary gamble, based off one key event which will take place in 2021.

Please DYOR, and nothing I have said should be taken as financial advice. I am not normally a long term investor, more of a mid term investor, but I am just taking a year long gamble on IBX out of curiosity. I just really like their technology and what they are trying to achieve, its pretty fascinating and could change medical imaging forever if successful.