Ann: Quarterly Report and Appendix 4C, page-15

With yesterday's results and the acquisition of Adheris now seeming to be a resounding commercial success, I'm not sure the same could be said for ALCs acquisition of Silverlink.

Both orgs required a CR to acquire their international counterparts with ALC stumping up ~$55M and MDR ~$49M. Adheris was taken out in November 2020 and Silverlink in December 2021. In the fullness of time, perhaps another year, it can be observed if Silverlink is able to generate $40M from a single quarter.

But do agree, ALC doesn't have $13M debt, so the updated cash on hand at $20M is groundbreaking for MedAdvisor.