Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-6

Hey look on the bright side you could be me, with a little more than that

Its certainly taking longer than we hoped. But all is not lost IMO. 12 months from now i think we'll be sitting pretty, and by that I don't mean we'll have to wait 12 months, i think in that time from things will be 5x where we are today. I believe these things will happen in that timeframe.

• First we will get a presentation with some updates on progress and maybe even a new information.
• We will get first sales in NZ and Canada.
• We will see some sales of the RoXsta prototype for research purposes. More news on other uses for this new product
• More fluid sales out of Japan
• TGA application finally put in.
• AI port progress
• A partner to come on board to help fund future progress

Finally, here is the growth that is starting to happen in Japan. This reads well. As more clinics sign on, more sales will happen. Snowballing each time a new clinic comes on board. Selling now would be selling at the start of the race that was delayed years.

1. Expanded Sales to Japanese IVF Clinics: Vitrolife Japan KK (Vitrolife KK), a subsidiary of Vitrolife AB, recently placed an order for six additional Felix™ consoles and 200 cartridges. These will be supplied to six additional Japanese IVF clinics, bringing the total number of Vitrolife orders in Japan to 500 cartridges and nine consoles across nine clinics.

2. Growing Market Presence: Since the exclusive distribution agreement with Vitrolife KK was inked in August 2023, interest among Japanese IVF clinics has surged. The increased sales volumes underscore Memphasys’ success in advancing the sales onboarding process, with Vitrolife KK clinicians and embryologists increasingly embracing the Felix™ System.

3. Felix™ System Well-Received: Feedback from Japanese clinicians and embryologists has been overwhelmingly positive, with the Felix™ System earning praise for its effectiveness and ease of use. Plans are underway to compile a dataset of results, which is expected to pave the way for Felix™ to receive Japanese public health insurance coverage.

4. Expanding Distribution: Vitrolife will continue marketing the Felix™ System to additional client clinics, further bolstering its presence in the Japanese market. Data from these clinics will serve as valuable reference points to attract even more clinics to adopt the Felix™ System.

5. Exploring Insurance Reimbursement: Memphasys and Vitrolife are actively exploring avenues to facilitate insurance reimbursement for clinics using the Felix™ System. Once in place, these plans are expected to enhance the Felix™ System’s attractiveness in the Japanese market.

In addition to the exciting developments in Japan, Memphasys has also forged distribution agreements with Vitrolife subsidiaries in Canada and New Zealand, marking significant progress in expanding Felix™’s global footprint.