Ann: Appendix 4E and FY16 Annual Report-PSY.AX, page-9

A nice gloss over by PSY there. To me releasing statements at the absolute latest possible time to market is always a worrying sign and PSY has been doing this for the last year.

This bit seems new to me though? (unless I've missed it before)

"The coming year will see the Company undertake a number of exciting developments which we anticipate to include commercial arrangements with internationally recognisable organisations operating in Priority Markets and the incorporation of a US-based subsidiary. While the Company will continue its Australian domicile, the wholly owned subsidiary will have responsibility for undertaking specific aspects of the planned development activities whereby the Company’s US presence will entitle it to, among other things; access to cutting-edge US-based prototyping and production facilities, access to a deeper pool of experienced scientific and commercialisation staff, and greater intimacy with potential US-based end-user customers and critical partners across the manufacturing supply chain partnerships."