Ann: Cellmid Reports on Results of The Doherty Institute Testing, page-81

The statement was not intended as tongue in cheek Dentie. It was simply intended as a statement of fact. You seem to have projected particular intensions onto the Board which I certainly do not.

I am not in a position to know what the Board’s thinking was but I expect their decision would have been made under circumstances where -

(!) They, like the rest of us at the time including those participating in the CR, anticipated an immediate major explosion in the number of Covid-19 cases within Australia resulting in a large number of people requiring testing;

(2) The company had runs on the board in terms of expertise in producing antibodies (including humanised antibodies) and in the development and use of antibodies in serological assay testing (an expertise that I expect did not go unnoticed at the time by Wondfo in selecting an appropriate distribution partner);

(3) Were aware that all test methodologies incorporate levels of inaccuracies including, as we have certainly seen, that related to DNA based methods and that the employment of an antibody based assay represented an additional test methodology that provided a different form of information relevant to the pandemic.

With the continuing increase in cases worldwide and evidence of a second wave how that decision might eventually pan out is not known at this time. At the very least however shareholders will be left holding an interest in a company that has had a $6.3 million increase in capital above that which it would otherwise have had.

poorinvestor