What is written below is reflected in the share price I feel and...

What is written below is reflected in the share price I feel and we are at where we are at and there is still a great opportunity provided external competition does not impinge much and we can differentiate from this. My two cents on your comments though...

I agree with some of that but I feel that is not entirely correct as I believe there is primarily a negative equity showing up as they are expanding into EU. If they did not do the EU expansion it would likely be equity positive. Also albeit small we are likely receiving part of the subscription flow from US as we may only be getting $400k from AUS at this time so other half may be coming from USA side? But estimates may have RP at $3-$4 million of share assuming 30,000 to 45,000 devices are actively used in Canada/USA, but it could be much higher than this also, so this is disapointing if we are doing all of the supply work, it was our IP, we have to go to the lengths to manufacture devices which distracts us from other areas, it creates sunk costs and overheads which are likely not captured, we did all the R & D also at significant cost as well. But we are starting to see some meaningful recurring revenue flow don't forget and it may pick up throughout 2023 FY.

I think generally speaking the JV should have just been 50/50 take it or leave it when originally struck but I guess this was the only way forward and only option at the time to get it off the ground and the expectation is when we ramp up broader Asia area where we control the jurisdiction it will catch us up. Not eintirely sure how they even track what is gross margin and what is 70% and who wears what costs etc, the accountign side must be complicated. If we want to launch broader Asia I think this will be 100% on us and we must finance it all but not sure there. Wonder if there could be a legal option to assert that the JV was formed under unfair financial grounds a bit like Telstra bullying people into bad contracts but prob a very long bow and also legal action would be the last thing we want/need but if there is any way to alter the contract, or start upping Zoleo device fees this could be explored.