What is especially pleasing is that the company has with the...

What is especially pleasing is that the company has with the Serum Institute contract, established a most significant contract for AnteoBind. Could you find a better reference? And now, we are in the prototyping for EV1 - that's a big step forward. Like the SII, it has taken about a year and a half to get to this point with EV1. We have to expect that with the big names, it takes time: lots of people to convince, lots of competition ("white noise", David calls it), lots of hurdles both technical and legal to jump and wrangle.

But more significantly, the company is not only extending its lists of interested prospects, some of whom are now initiating contact, but its list of applications of the technology. The opportunities are expanding in two ways: applications, and prospects. Some years ago Joe Maeji produced that "circle of applications"; I think the circle might better be presented as a sphere, to allow easier display of connections - the cross-fertilisation or simple spread of ideas as perhaps we see in the battery separator opportunity, and the Dept of Fisheries case with its shellfish pathogen detection for biosecurity. (Biosecurity could become a significant field for AnteoTech.)

With our CET, we have opportunities not just with several EVs, but power tools, consumer electronics, stationary storage, advanced chemistries (think anode separation, carbon nanotubes). AnteoBind and AnteoBind NXT will be steady earners, I'm sure, and who knows where they might lead - biosecurity, vaccines, lateral flow applications . . .

We are not now sweating on a single prospect, a Philips POC, or a Covid rapid antigen test. And we cannot and must not expect we will succeed with every opportunity. Many a slip 'twixt cup and the lip. Not our slip at all, not a failure of the technology, just so many factors. Fiefdoms, budgets, risk aversion, prior commitments. So were the EV1 prototyping not lead into a design freeze for us, we won't fall in a heap. Sure, we'd be disappointed, but not defunct.

My final comment is not for comparison, but reflection. I remember some investment opportunities that came my way in the 1990s. CBA: as a customer, I would have bought around 400 shares then ($5.40 was the offer). I sold them a bit later, I think for around $7-$9, and was pretty happy with that. Hmm. CSL? No, but I regularly used their vaccines for my sheep, for such as cheesy gland, liver fluke, and later Ovine Johne's Disease; I think at the time the CSL SP was around $5 or $6 (at their 1994 IPO, they were $2.30, so with a subsequent 3 for 1 split when the SP was around $100, the adjusted IPO price was a notional $0.767). Shoulda sold the sheep and bought CSL with the proceeds! Ain't hindsight wunderful!