Ann: Quarterly Activity Report and Appendix 4C for Q2 FY2022, page-2

Positives:
1. iMed has expanded to 3 sites. Sounds like we are wanting to rapidly scale up but iMed perhaps slowly doing so.
2. Scanner on track but see below.
3. 8 quarters of cash available BUT they may still want to raise capital by end of this year should revenue not be flowing as they won't want to run dry.

Negatives:
1. No elaboration on numbers of scans done with iMed - eg per week. Since commencement etc.
2. No mention of Medicare/Obamacare progress at all - is this even still happening???
3. No real idea on when clinical trials will drop - vibe there is Johns Hopkins is 6 months away and others we can probably write off for 2022. Are they all active as some may even be scrapped as they have gone stale. Understandably we are at peril of the other party here but gee this is slow.
4. No real explanation of US commercialization strategy outside of VA or specific updates on active pilots. Vibe is no US deals for a few more months here. 1255 targets and not one willing to sign? This could change suddenly but the vibe does not seem so upbeat to anything soon.

My first take anyway. Pleasing iMed has expanded, in theory we could be across their network very quickly as it is just a matter of installing software if even that as may be a cloud internet interface.