Found a small window.In short, I am ecstatic with progress.Clear...

Found a small window.

In short, I am ecstatic with progress.

Clear intention is to build a market leaderover the long term and their journey is a marathon not a sprint.

Clearly working hard on investor relations. Doinga good job in creating awareness and understanding of their company and theircompany’s products and opportunities. John Kelly is a beast. In the AFRyesterday or the day before.

I think investors would appreciate if thereisn’t success it isn’t through lack of trying.

I have been monitoring AT1 for a while, bothpersonally and for my employer.

For me, key success lever for AT1 is the choiceof distributors. As an example, UBI and Siemens.

Also question, given their envious cashposition, whether they need to go harder now in resourcing strategy and businessdevelopment worldwide. In other words, give John more bandwidth and firepower,now! Government liaison perhaps.

Otherwise, I am liking this story so far Finfree.Some commercial traction, some runs on the board, and then a share registrytransformation possible. Once some of the shorters and profit takers are weededout (or move onto their next victim) and more investors are onboarded withvalues and investment mandates aligned with the longer term strategies of thecompany, then there will be more SP stability.

Finally, if they continue to build momentum inthe short to medium term, I see AT1 as a potential medium term takeover target. MedTech M&A deals and the dollar volume of deals declined in 2019 vs 2018. Would imagine 2020 will also be slow (given covid-19). I would expect deal numbers will rise in 2021 and rise again in 2022. Once the world settles down post covid19, the search for synergy opportunities, synergy levers, value creation, value propositions that solve fundamental problems and mispriced opportunities will heat up (like Oodnadatta, South Australia in the middle of Summer).

I say all of the above with no bias or motive,as I/we are currently watching closely not currently holding. I/we are alsowatching HYD.

Interested to see what Canaccord come up within their next broker report.