Ann: Investor Update, page-40

It's been a tough road waiting for the left field NanoDX EUA approval.

Unfortunately, holders have had to rely on information from unverified third-party sources like Stewart M, which has led to a see-saw in the share price action.

For me, the involvement of PURE through exercising oppies and offering a commercial loan is a change of tides for the positive. I'll explain why.

PURE Asset Management is managed by three guys - Tim Callan, Nick Berry and Mike Henshaw.

Nick Berry and Mike Henshaw are ex-Petra Capital. You know, the same Petra Capital that have bought a decent position on market at an average price of 7.6c.







Firstly, the PURE guys are well credentialed, very experienced and deliver great returns for their clients. They don't throw good money after bad. Obviously, they see something tangible here going forward.

Now there is certainly a relationship between Petra Capital and PURE Asset management. But it doesn't end there.




We also know there is a relationship between Mike Henshaw (PURE) and Thorney Investments (Alex Wiaslitz), who retains his 4.5% holding. Mike was the investment manager for Thorney Investments.

So now we have Petra Capital (unsure whether this was PURE buying through Petra or Petra directly), PURE and Thorney Investments that have an existing relationship.

Finally, in my honest opinion, we're going to see some leadership. Either Ralph will change his attitude or he'll be replaced by a decent block of shareholders who are heavily invested and want to realise their investments.

Like many others, I tried to reach out to Ralph and have him engage the market and shareholders by providing a forward-looking vision. However, as individual shareholders, we don't have the same pull as PURE who are once again "bailing out" the company. That's why in my opinion, we've finally had some communication.

Things are looking up because of the synergistic relationship between major holders and their pull.