Ann: H1 FY21 Results Investor Presentation, page-66

Management should be commended for the way they have handled the last year. They are tackling this head on and aggressively ramping up expansion through new accounts and increasing sales staff dramatically, in a time where many biotech companies are licking their wounds and tightening their purses we are doing the opposite, whilst maintaining a significant reduction in operating losses.

As further locations and accounts reach maturity we should see a return to loftier growth figures, it is exciting to see that DACH surgeons are holding webinars at their own time and expense to share the novel uses of BTM to peers, of which PNV is not participating in. Seeing more of the like of this will continue to reap further journal publications and evidence for additional applications.

One of the key positives I would like to point out from this to our fundie friends in Sydney and Melbourne who are plugging ARX on Livewire would be that we have delivered an increase in sales of +31.2%, whereas our competitors across the ditch delivered a contraction of revenue of -10% whilst navigating the same difficulties in light of Covid. I know which horse I would back in this race.