Ann: Appendix 4E & Financial Statements, page-2

Two main points of interest for me:

Lab on chip technology, and asthma related acquisitions.

There's a little bit more info in the report than what has been announced, but not heaps. Some useful bits extracted:


Oraline / drug testing:

"..the Company commenced work on its new 6 Drug version of the Oraline® product  and continues to research suitable biotechnology opportunities as part of its strategy."

"With this in mind, the Company’s strategy is to operate a lean, low cost model using outsourcing where possible, for the
cost effective development of Oraline®,...."

"The Company has also conducted research of future paradigms for drug testing, including hybrid
electronic devices (cartridges attached to an electronic reader), biosensors and “lab on chip”
technology as it applies to applications in drug testing."


Acquisitions:


"While at the core of the Company’s biotechnology business is the development of workplace drug
testing solutions, the Board is cognisant that therapeutic products represent a more attractive
opportunity for the Company, with less competition, better ability to differentiate, higher margins and
significant value inflection as the product moves through the development pipeline."

"....the Company’s strategy is to operate a lean, low cost model using outsourcing where possible, for the
cost effective development of Oraline®, whilst continuing to do extensive research on therapeutic
assets with the intention to acquire or licence."

"During the financial year, the Group evaluated a number of new biotechnology investment
opportunities, without securing an acquisition. The Group continues its search with particular emphasis
on technologies, devices or therapies in the area of Asthma and other respiratory diseases."


Cash position:

"The increase in cash and cash equivalents was largely the result of the repayment of the convertible note
facility by Malachite Resources Limited and the sale of quoted shares in Malachite Resources Limited
(refer to note 12 for more information)."

"The directors believe the Group is in a strong and stable financial position to expand and grow its
current operations."