Ann: Shareholder newsletter, page-3

I am wondering why there has as yet been almost no reaction on Hot Copper to GSS's recent Shareholder's Newsletter. I thought its signals were very positive but am now concerned that I have missed something important in analysing what is being reported. Any commentary would be very helpful.

The CEO's summary of the company status is:

The last 12 months have been transformational for Genetic Signatures, with the company achieving the following milestones:

• Sales have grown by more than 400% on a year-to-date basis (to 31 March 2021) and are already more than double FY2020 full year sales. Significantly, GSS reported its first significant profit ($4.5m) in the 1st half FY2021 and has positive cashflow year to date (as at 31 March).
• Rapidly developed a 3base™ assay for SARS-CoV-2, the virus that causes COVID-19. This assay complemented the tests that GSS had already developed for the known circulating seasonal coronaviruses.
• We have expanded our manufacturing capacity to meet demand through automation and increased staffing and have now sold kits in all our major target markets – USA, Europe and Australia. The USA and Europe together account for 75% of global testing for infectious diseases and we have an expanding footprint in these markets.
• We have increased the number of Genetic Signatures’ branded instruments in use worldwide four-fold compared to 12 months ago. Our growth strategy is to not only increase the number of customers but to also increase the range of tests conducted by current users.
• Our Board was pleased to welcome Dr Neil Gunn as a Non-Executive Director. Dr Gunn brings more than 30 years’ experience in the industry and was until recently the President of Roche Sequencing Solutions and prior to that VP of Roche Molecular. His knowledge of the industry will be immensely valuable to our Company.