Ann: Quarterly Activities Report and Appendix 4C, page-4

There was nothing really stunning in my eyes about the latest quarterly report other than to confirm they are progressing well on all fronts and to reaffirm the guidance of $15m pa. The market has also reacted accordingly.

The share price is now going to be driven by revenue in the future.

When we see the guidance raised above $15m or the addition of new revenue generating contracts, then I believe we will see a re-rating of the share price.

Until then I think we will float along around current levels.