Ann: TGA Registration Update, page-380

Derek has said in several interviews recently we are selling in Europe. He may not be the greatest salesman or communicator but i believe him to be an honest man. If he says we are selling in Europe then i believe we are selling in Europe. Europe has a population of 750 million, 30 times the population of Australia, not selling in Australia for a while is not the big deal that the herd thought it was yesterday. It had been the plan for over a year now to not bother pushing it into Australia where we werent wanted and to just focus our efforts in Europe. This seems as if it has finally borne fruit with Exxe now listing our product for sale in Italy.

We currently only have a production capacity of 32million, yet by just selling that amount will almost definitely make us a 5 bagger from here. With the current state of the market there are not that many stocks wiith a short term 5 bagger potential. Nothing has changed fundamentally with this product, its speed, accuracy and connectivity still solves a lot of problems for governments and industries. Having gained approval in Europe it should not be a huge task to corner the cruise industry which it alone could swallow up our current production.
We still have plenty of cash in the bank, the only way we can go wrong from here is to persist in throwing a lot of resources at a seemingly belligerent Australian regulator. We should stick with the plan and focus on Europe. We need to make hay while the sun shines and the sun is not shining in Australia.

Hopefully our renegotiated deal with Ellume will be starting to bear some fruit, they are producing in huge numbers now and our (hopefully) improved percentage of that is an unknown factor that many have seemingly discounted. It was not that long ago that ADO only asp
ired to being a raw materials supplier, scoring a deal like with Ellume would have been as much as we could have hoped for. Fortunately our vision has grown far beyond being a rather desperate materials supplier, we are on the cusp of being a real player. The success of this company is certainly not reliant on TGA approval.

If our battery technology's numbers prove to be as good as they look then our current MC is warranted on the battery IP alone. If we dont get a deal signed soon we should again take the bold step and move from being a mere desperate material supplier to a manufacturer. Australia has plenty of lithium and plenty of silicon, a prudent government (stifles giggle) should see the future and give a large grant to the creation of an Australian owned battery manufacturing industry. The Australian battery collaboration we are a part of could be a dark horse to watcn.
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Monday's 4C will almost certainly show an increase in revenue (just from Ellume alone) just how much we will have to wait and see. The numbers might not be huge but i remain extremely positive that we should be able to sell all 32 million tests somewhere somehow in the near future."It may not happen overnight but it will happen".

The success of this company is not TGA dependent. The success of this company is dependent on selling stuff, unfortunately it does not seem like its going to be Australia any time soon. We need to accept that, get a few mill out of our cash reserves and throw it at the best salesmen Europe has to offer and let the money start rolling in.