Ann: FYI Receives R&D Tax Incentive Payment, page-35

Have no clue how much you guys hold, but without the likes of paragon exiting, looks like this is very tightly held. The assays should come back any day and then sent to customers. Actually by now the product is due to be delivered. To be followed by 3 week qualification by various Chinese, Korean and Japanese customers- we were told fyi is heavily engaged with customers. I’d expect us to re-rate probably to 20-25m cap, then nearer to 40-50m when the customer MOU’s or LOI’s start to trickle. And with offtake? Say 60-80m, based on peers. The next 6-8 weeks will give fyi important catalysts. Failing that, I suppose an Offtake will, definitely. 40-50m is not asking too much but that’s 4 baggers from here. Even 2-3 are not that bad in 6-8 weeks.