I would be curious as to what point substantial support comes...

I would be curious as to what point substantial support comes into this. Does this hit .01c given the rubbish depth on the buy side and then just flounders forever again as though the last 12 months didn't happen? The only reason it isnt there already is that absolutely no body is going to sell off at that level currently given the levels in which people purchased originally.

Response from IR a day or so ago to my previous queries:

Firstly, my apologies for the delayed reply. I have been travelling and am catching up on emails. Sincere thanks for making time to write with your concerns and for your ongoing support of Lumos. Like yourself, the Board and management are not pleased with the direction of the share price at present, given the business progress and positive news flow over the last few months. Unfortunately, like many microcap companies which are suffering a similar share price fate, we have no control over the vagaries of the market, and impact of low volume day traders.

With regards to your query around providing further clarity around service deals. As you would be aware, these deals are commercial in-confidence, so we are limited in what we can say about our clients and the projects we are working on, particularly if they are new products that clients are trying to bring to market. However, we will take your query onboard, and if possible, endeavour to provide additional colour in future updates.

Please be assured that your Board and management are working diligently to continue building the business, keeping the market fully informed and finding new investors, creating additional demand and arresting the share price decline


My response back:

Thanks for the reply. Hope your travels went well!

I appreciate the commercial in confidence dealings with the clients. I just don't think the market is valuing the company as one would expect it to based on the current information at hand. I cant see dramatic differences in the company outside of the cash on hand at IPO and removal / pause on some previously working products such as sepsidx and uridx etc so cant see why the market has under-priced the company when this was once over $1 a share. Further, the company with all the quality deals completed over the last 12 months, the market has not/wont factor in any fundamental growth since FDA approval of Febridx and the US expansion.

Some comments I have noted from the team and board I would hope to get some clarity around if possible:

- There was a 28Million share after hours trade which would quantify a 5% holding in the company (nearly $1Million AUD trade). Is there any clarity on what this was or has the company looked into what this was? There were no notices to the market on this and given the substantial nature of the trade, when average volume trading was closer to 5Million a day, its begging questions with holders.

- Paul made comment in previous webinars around larger distributors in the US being in talks and another point around a manufacturing/licencing proposal for Febridx. Are these talks still ongoing or any further movement on these?

- Is there a likelihood of Viradx obtaining full FDA approval or is the company not pursuing this as it has the EUA in place?

- Can I obtain come clarity around the nature of the Good Neighbour Pharmacy and Febridx arrangement? https://www.wearegnp.com/point-of-care-testing; Does this arrangement provide in pharmacy testing for Febridx within the collective group of pharmacies aligned with GNP? It appears GNP is a subsidiary of AmerisourceBergen, is there a distribution arrangement with AmerisourceBergen or to be announced? Or was this developed through an existing relationship like Henry Schein etc?

Like others, i absolutely hate the hiding behind "commercial in confidence" comment. There are things you can elaborate on in respect of the business dealings you have which can spruik investor confidence. There has been comments previous around "novel hormone testing kits" etc and without delving into exactly what it is, they can provide some context around what it means to the group. It eventually comes out but i cant see much reason as to why they cant provide further clarity for the pundits. Edit: I also want to point out that they always refer to a "menu of tests". Okay, well what are they? If there are plural tests then are these currently available, new tests being developed, standardised tests in market?

Also, regarding my questions, obviously i wont get a response of "yeah, we signed a distribution deal with blah blah, without a market announcement. Finding breadcrumbs in the communication is part of the due diligence and its up to us to put 2 and 2 together.

I still heavily believe that the 28M trade needs answers. I cant fathom how a $1M trade occurs and there is nothing said about it from anyone, including the ASX.