Ann: Botanix Roadshow Presentation, page-12

Agree. They have the runway from a balance sheet perspective. So if they can do what they say on the tin, this has every potential to be a huge success and beat all expectations.

It might be concerning how many pivots have been made and how many stumbles have occurred, but that’s business and this is still early stage and in many respects still experimental. That’s the risk appetite one must have.

The fact it is trading at this mkt cap is nonsense given the optionality to succeed. But it had its day in the sun and didn’t deliver, investors got torched and the clock has been restarted.

Beauty is, BOT has cash to persevere and the difference between 5c and 30c at the end of the day is meaningless if they achieve what must be achieved for this not to go to zero.

It’s binary and in my opinion, the timing of BOT either being a zero or a hero is the greatest uncertainty.

I’m hanging in there. But if cash levels drop without anything to show for it…. I might reconsider that.