Ann: Appendix 4C - quarterly, page-120

Obviously I’m also very disappointed with the results today given the forecast. I do think we are moving in the right direction but maybe not fast enough given the money left. When attending the AGM it appeared to me the company was not concerned about our financial situation. That may have changed given the latest results however when broken down into weeks I can see how easy it would be to get it wrong. As an example we are now selling into a large amount of hospitals and to make up the short fall in guidance 75 cardiocel patches a week and 10 3D patches a week would have got us there on top of what we sold. I’m not sure how may hospitals we sell 3D into given its specialty but the flat patch would be less than 1 patch a week to make up the 75 patches. I don’t want to make excuses but just trying to get my head around the results today. IMO