Ann: Preliminary results of further XPERIENCE studies released, page-2

Another piece of evidence supporting the effectiveness of the X-Bio technology.

Cash is going to be tight this year and this could result in a return to the market for more, but I am confident that by the end of 2024 they will be cashflow positive.

• Margins are back at the 78% level and I believe they will remain there.
• Admin and R & D costs seem to be under strict control and unlikely to grow quickly.
• Selling & Dbn costs are the key to them achieving their cashflow objective this year. It seems like they have made significant and effective progress in this department.
• Total revenue for 2024 should easily reach their guidance level.

It will be very interesting to see the progress made on each of these fronts in the quarterly.

Currently 35 buyers for 485 000 shares and only 7 sellers for 50 000 shares.

When this rerates, it is likely to rerate hard.