Ann: Breakthrough FAA Certification, page-215

@JCoure – You have attributed quite a few risks as to why the SMN share price is languishing or unloved by brokers as you put it.

I don’t see any way that SMN is subject to geopolitical risk unless you put the good old USA as the basis for this risk – yes USA is a complete mess itself geopolitically but it sure isn’t antibusiness and for that matter neither is Australia the home of SMN. Given this, might you identify where this political risk may come from as I don’t see any such risk myself, but would like to be appraised as I may be missing something important here.

Second you have identified governance risk as another cause for broker unlovedness. This may have been the case prior to the Board restructure just a month or so ago, but with this restructure with new faces including a new Chairman whom has been completely open about proceedings since his arrival – I suggest you are well off the mark with your governance assessment.

From my point of view the risks are all business oriented – slow FDA approvals - (if you are in this industry then the FDA is part of the environment and you have to put up with the way they operate) and product uptake by airlines and OEM’s – will they or won’t they? First signs of product sales and this company becomes very much de-risked.

Cheers

redgum