Ann: Appendix 4C - quarterly, page-49

I didn't have high expectations at all, but still expected things to look a little closer to on par with the previous quarter. It was always going to be average, with Q1 2021 to be a real test of what income ZLD can produce, but this 4Cs results are below-average, and the share price is reflecting that. Only silver lining in this for me is the significant cut to R&D this quarter.

Communication is going to be critical over the next 3 months if the next 4C is great, if it is only good then communication over the next 6 months will be a lot of what keeps the SP afloat. I do have some concerns given the company's ability to communicate effectively in the past. ZLD really needs to get the products out there, and communicate to SH how it's doing that. It's pointless after the initial stages, but AGH provided the market with regular updates on patient and practitioner subscriptions when it was first releasing product and this proved effective in a) conveying the message, as well as b) building investor trust and confidence. I think something like that would be a simple but necessary action to hold things above board in the short term.