Ann: Entitlement Offer Booklet, page-8

Alusion capacity was/is too low. I think they wanted Zinclear profits to fund the increase in capacity, but the opportunity has presented itself now, so they'll invest now I guess. It's also preferable (and in management's DNA) that they remove the single point of failure by establishing two Alusion manufacturing sites. I like it.

The other investments are interesting. You'll notice AIR have invested heavily (with a similar structured placement, but much more dilution) to become a contract manufacturer. Reading between the lines, Lev and co were looking for a manufacturer in Australia and couldn't find one. So ANO will produce the inputs (or dispersions, depending) and let AIR do the rest.

You'll see AIR's website updated (https://www.astivita.com.au/) rather messily I might add, with new products - all of which contain some form of SPF.

I am a little confused about the in-vivo SPF testing facility. I would have thought this sits with AIR, but it could be that ANO creates the formula, tests it, then sends to AIR for manufacture/packaging. My knowledge here of where things normally sit in the industry is off, but I did think CMs did the formulation.