Ann: Appendix 4D and Financial Statements, page-3

Interesting that there is nothing in the quarterly reporting regarding this increase, it is 100% increase in YoY. In the quarterly there is not one mention of the words "Europe or Asia", you would think it is warranted given the growth. From the Q2 presentation it is clear this growth is directly proportional to the new distribution agreements, and it is also clear that growth should continue with negotiation in several other countries....



I find VTI an interesting company because it is trading dirt cheap for a company with a viable product, with viable transport logistics path to market and a growing (albeit slowly) seemingly sticky product... The risk is massive dilution, but equally if someone wanted that path to market and product - wouldn't take much for a successful TO, just need Thorney to agree. What would be a massive announcement would be a CR but only linked to Chinese expansion, because without that I think your staring down another large discount to current price...