Ann: ASX Confirms G Medical Delisting, page-199

Hi HK

The announcements were not that easy to interpret and hence why I took the cautious lower number.

As you can see, the company will require some very high monthly patient numbers to reach this target of 84,000 by years end. And as such, the market and myself are not 100% convinced at this stage they will be obtained.

I'm comforted that the company has confirmed and cleared up the issue. But as this stage I'm still not convinced and happy to be proved wrong.

Hence the monthly updates and hopefully the August numbers can show they can be achieved.

No secret handshakes from my end. Just managed to get hold of him and asked straight up. I also reached out to Yacov, but all I got back was he couldn't comment on anything as he was in blackout due to the upcoming Nasdaq IPO.

So by the companies own announcements it is forecasting 84,000 patients this calendar year and it receives between $175 to $700 a patient depending on the service provided. Thus the company, not me,
is telling the market to expect between $15m to $58m USD in revenue.

I can annualise and use average sales etc etc and get some crazy revenue numbers.

If they can do what they keep saying they will, then we should see a much higher valuation on the Nasdaq.