Ann: Response to ASX Query Letter, page-6

Roby, Brett and Anthony Eastman all owners of Graft Polymer.

They paid GP $500k to develop IP for MXC and now GP still own the IP and a royalties agreement or similar will need to be negotiated before the drugs using that IP can be commercialised. So MXC paid GP to develop technology that will financially benefit GP at further expense to MXC....
and furher financial benefits to Roby, Brett and Eastman.

To top it off, they have committed to using this IP in CimetrA and looking at patenting it before negotiating the terms of a supply or royalties agreement with Graft Polymer.

Wouldn't you like to be the company negotiating a royalties agreement when the other party has already committed money and their future plans to your technology? That can soon become a write your own ticket negotiation..... and not in MXC's favour

Who will Roby, Brett and Eastman look after in that negotiation.... lol.

Brazen as can be!