Ann: EGM Presentation, page-4

Pinky,

the presentation shows the direction the company is headed. Moving away from the current confused model of fever monitoring, telehealth, RPM, cloud software etc etc. Laser like focus now on inhaled therapies. Completely consistent with their new bed-fellows, ECP and Cannvalate without actually saying it in RED BOLD letters. I get the impression that this is a softly, softly move towards our new business model of delivery.

The Q&A provided some useful info. 3 questions
1. this move in company direction should allow them the ability to start selling refill pods and generating recurring revenue from the sales of the pod. So i forsee in Q4 some decent revenue start to flow in.
2. Hoping to have the pre-IND meeting with the FDA in next6 months. Company working hard with Camargo to generate all the required data
3. Company investigating multiple inhaled delivery devices as soon of these likely to allow them to go straight to human trials rather than having to muck around with safety and tolerability first. This is anticipated to streamline the trials and regulatory process considerably

All up I see enormous value down here. Once you take away the cash at bank our enterprise value is basically $10M. We are in bed with some of the heaviest hitters in the australian medicinal cannabis market, have a fantastic board and management and are playing into a hugely lucrative space which wont be impacted by the regular slow biotech timelines because we have significant near term revenue.

Aligning our ASX code IRX with some of our sector like IHL (with close director connections) may just shine a light on our undervalued MC IMO. Hopefully the paperwork is done quickly.