Ann: Appendix 4D & 1H FY25 Report, page-43

100% agreed @Tsack
was going to sell my trading parcel if I saw some bad "news" in the report but still haven't found much but instead saw a couple things that kept me keeping it in the hope for $2.50 by the end of the week. In hindsight stupid play against the mighty shorters but who knows what they will decide re next steps and perhaps we will still see +$2 this week, as I still think the report was actually quite good (at least nothing bad that we did not already know; for example a loss; no debt, profitable and +25% growth sound all good to me).

The two items were:
1. "Result impacted by slower U.S. customerpayments, however significant improvementin month of Dec 24 and Q3 to date"
--> positive smoke signs

2. "Revenue from Indian operations has grownby 73.1% to $544,000. Brand awarenessof NovoSorb BTM has risen considerablyresulting in significantly increased marketshare. Progress in securing public tenderhospital mandates has been slower thaninitially expected on account of having tonavigate a complex web of individual hospitalrate contracts and administrative approvals,but the Company is confident that thefundamentals of its Indian operationsremain strong."
-->Well, to be honest I thought revenue from India was still next to zero, so half a million in AUD is better than I thought it would be (that is roughly 30 million Indian Rupees for those of us that like big numbers). During the webinar they further said that they are currently participating in 60 tenders in that market, so the potential is there and growth, too. Imagine they could continue to grow in that market at the current 73% growth rate...

Longer/mid term a key theme for the SP appears to be in any case:
"The Company has now met the trialenrolment target of 120 patients and on17 January 2025 announced that it hassufficient data to submit an applicationfor PMA approval and is in the processof compiling the material required.
--> so BARDA in full swing and on track re FDA