Broker Report 2023, page-5

Looking at the Annual report in conjuction with this analyis report it shows that most of the restricted shares relate to the directors and key manangment of the company. Ocean And Remi Pty LtdHolder of 14,162,499 restricted fully paid ordinary shares reconcile with Blair's holding as CEO and that representns 7.02% (not 36%) of the total issued shares as you have stated.

The restriction is usually simply a standard escrow for directors upon floating a company so they cannot sell any shares before 30 November 2023. Good really because it is usually more difficult for directors to sell even when they are free to do so because the must disclose every trade with in a few days.

Either way, the board and management of BIO have proven so far to be extremely commited and I feel we are in safe hands