Ann: Change in substantial holding, page-12

Yeah, it is hard to predict with a pre-revenue company (although I think there's a bright future there potentially, and I follow IMU)

It seems pretty consistent that Australia produces some fantastic biotech, medical device companies and there comes a point where there's little point staying in Australia and they move their operations fully overseas and the commericalisation and the rewards tend to happen in other regions/economy. I wish our market was a little more sophisticated or a bit more long term thinking. It means there's plenty of mispriced stocks in the sector to take advantage of but it can literally take years to get a good return, and for companies that need to raise money along the way it can really screw over RI. It is no wonder people invest passively, or just follow momentum. For example, we've got the most expensive bank in the world in CBA that returned 40% in the last 12 months. Why would you bother investing in companies that have a higher risk profile when there is a monopoly and partisan government policy that seems to centre around keeping property prices high, and protecting the profits of banks to the detriment of future generations, kicking a massive problem down the road constantly rather than address it for the better of all future generations.

That's why this all makes little sense for companies like CUV where there's a foundation of cashflow generation with plenty of large growth carrots dangling.