Ann: Market Update - EU Commercial Activities, page-26

Hi all,

LBTshowed up on my relative volume screener a couple of days in a row last weekand so I began researching it. While the price action has not followed through,I think it has a lot of potential. As a first poster I know some of you will beskeptical about what I post here but, that is why we are here isn’t it, and ifI post anything that is unfounded, happy to be corrected. I probably wont postthat often but anyway, from what I can see is this is a pretty beaten downshare price now.

Lookingat the chart I have entered. At the current level with a mental stop loss and targetof at least 23c that is a 5:1 reward/risk and I am happy to risk that. I know there areprobably people here that got in above that and I am not here to rub it in, justsharing why I think the SP at current price is an opportunity. Another thing Inoticed on the chart, is that LBT has spiked up then back down about a monthbefore it goes on a run the past couple of times. And the spike has justhappened again. See at bottom.

Some ofmy reading here suggests there’s some discontent about the board, CEO, chair etc butthose last two I can see have something like 4.5m shares between them, so thereis some incentive to get the SP going. Well done I think to holders with thefirst strike on the remuneration report, that should put a rocket up them. The recentannouncement about BB “electing” to take a $44k cash bonus as shares at 16c isinteresting. That bonus is now worth something like $32k (like within a week)so why would you do that, as a company insider, unless you think the SP will bemore than 16c?

As forwhat we are getting I think the story is better than the market cap givescredit for. We have first mover advantage, worldwide accreditation and news tofollow. The second US FDA approval for the MRSA analysis module should create abounce in SP, probably Q1 2021. This was submitted in March 2020 and marketupdated 4 June that LBT had 180 days to provide additional info. I calculatethat date to be 1 December for that 180 days to be up so assuming its all done.

Thenthere is John Hopkins University, pretty much the global authority when itcomes to CV19, they have independently verified the APAS Independence works100% and picked up the readings better than manual readings microbiologistsover a 3 month 4600 + sample size. This coupled with the comments from thefirst US buyer “The ability for us to automate the reading of our cultureplates with the APAS Independence has increased the work efficiency throughthe laboratory and has motivated staff who now have more time for otheractivities.”

Saleswill come - I read that on here, I agree. Just look at what they have so farand this is in a world that is focused on CV19.

· Saleplus 5 year software licence to Limbach Group Germany with network of 30 labs

· Previoussale to German Labor Dr Wisplinghof.

· Saleplus 5 year software licence in USA to Hennepin County Medical Center.

· Clinicalevaluation for NHS Health Services Laboratory, London

So firstmover, automation, accuracy and accredited. And ongoing software licence fees. Cracked the US market, cracked theGerman market, about to crack the UK and a few days ago they announced thepipeline for France to through Beckman Coultier. So I like the story and thinkthese will also give us SP bounces up as though come out.

As for comparisonto value and please do correct me is I am oversimplifying. Alcidion (ALC) hascracked the UK NHS market with sales and has a market cap of $188m but theirrevenue is $20m per year in the past 2 years. Impedimed (IPD) has cracked theUS market with its heart product and has revenue of about 5m per year past 2years but losses overall of $20m per year. Market cap $140m. LBT has crackedboth and at current price our market cap is $34.6m.

At 23cwhich i mentioned above it’s only $66m so still less than half those other two comparisons. Depending how fast it moves, I could hold for another bag to$100m or 35c. But then again, if there is no movement, I can just as quickly beout. But at this price level, I just don’t see much downside and just have tosee those announcements feeding through.

All the best holders