A balanced view from me.Let's start with the positives:1)...

A balanced view from me.

Let's start with the positives:
1) ENERGY:
- AnteoX may be commercialised in 2022 based on "Should this evaluation be successful AnteoTech hopes to enter commercial discussions with Collaborator 8’s customer in early 2022". I find this exciting, especially given Collaborator 8 has global reach. I don't know if this means tens of thousands of $ per annum or millions
- Energy Advisory Board is strong, and will help with commercialisation, something that I believe to have been a gap in capability at ADO
- not surprised to see minimal revenue, however, I was

2) LIFE SCIENCES
- I remain very happy with the appointment of Head of Product & Services, Pierre Nathie. This has been a big gap for ADO to date. Let's go Pierre! I am not overly surprised with the minimal revenue given we haven't had a sales steam in place and hadn't received any indication of significant sales

What bothers me (unfortunately a few things):
- I want to see tighter focus on outcomes. ADO leadership have a tendency to report on task / process and not desired outcomes. We want dates, milestones, desired outcomes etc. "not we are in discussions with". Tell us what outcome you are driving for. ADO could do with an Agile coach or two!
- I want to see greater transparency "Preliminary planning for clinical studies to validate the multiplex test has begun", well that is disappointing given Flu season peaks Nov-Feb and Derek had committed to Clinical Trials starting Sept '21 (see p.12 Investor Presentation from 28 April). Saliva. Ellume. No mention. I want transparent status against the desired outcomes
- The comment "While shareholders have questioned a perceived reticence of AnteoTech to promote or sell EuGeni in Australia, the Company is simply abiding by the law". From the shareholders I engage with, this sentence and sentiment makes me believe Derek has misunderstood the challanges presented to him from shareholders. Shareholders are frustrated that TGA approval was not applied for 6 months ago to capitalise on the domestic sales (and associated markets that require TGA). This missed opportunity has cost ADO [and shareholders] significant money (in the millions IMO)
- The comment "Frustratingly, the evolution of these additional processes [relating to regulation] now makes country registration a serial
process that consumes go-to-market time.". This highlights the companies gap in Go To Market capability. June 2020 was when I recommended we bring on a dedicated Commercial director to solve for Go To Market to drive sales (which includes navigating regulation). That sentence in the quarterly is more of an excuse. After all, companies have been making billions of $$ in covid test sales - navigating regulation and other barriers.
- They still have the CR $$. Personally I want to see this money spent! On growth, sales and expansion. Think bold ADO. Think BIG.

Moose