Ann: Rhinomed Lifting of Trading Halt, page-9

In fairness think the market response is about right atm.

I think it's a great contract win and can't see why it won't get the final tick of approval in the coming weeks. Both RNO & BTNX have sounded pretty solid about the partnership in a couple of announcements & BTNX has been through the Canadian process before. But, it hasn't happened yet.

• The original BTNX MOU was announced on 25th January (10 weeks ago)
• The HY Report hinted at a 2 year year contract (7 weeks ago)
• Last week's Supply agreement finally confirmed the minimum quantities

So in some aspects the news with regards a Tier 1 partner is 10 weeks old.

Since then things have unfolded like:

• Ukraine & Russia
• Talk of rising interest rates
• A Federal election
• A Cap raise was announced in conjunction with the Supply agreement
• We're now in School Holidays/Easter break
• We still need final regulatory approval
• The BTNX contract doesn't start until July
• The BTNX contract & revenue doesn't ramp up until October
• Governments aren't talking as much about Covid & our health as they were before
• Most long termers already have their fill & like Elite said can top up in due course
• Other competitive technologies come along (i.e. see ResApp (RAP) & Pfizer proposed acquisition today).
• Bell Potter & co don't get their shares until 19/4

I have faith the BTNX deal will happen in full and that there are other decent contracts in the making.

I think RNO will re-rate over time, but for now I'll sleep a bit better than I was this time last week.