Typed really fast so much might be incoherent, but here are the...

Typed really fast so much might be incoherent, but here are the dictations...

P&G - many products
Creating our own products - creating value chain
Our own skin care products
P&G gave comfort - not a bad place to be... Don't rely on P&G licence and royalty
P&G licence only on skincare - narrowing of licence so we can do more ourselves
800K products created by P&G to date, will keep going wand
Current iWand will phase out 18/19. Working on new replacement
Magnetic Power Booster (Wave 2) in several Asian countries, continue 18+
Magnemasks started Sep - fastest growing, largest volume product to date. Continue 18+ and Nth America
Variant to magnemacts launching in NY
Other P&G product in development. Microarray cornerstone to the company
P&G very secretive of numbers - but very very positive, esp from SIN visit
2nd tech licence -
Master Licencing Agreement - aim to get done before AGM, but dependent on P&G
Part of 2nd licencing tech - several milestone to be met... meeting Milestones is critical for P&G to stay on board "keep them pedaling"
Jeff
Company has always had interest in developing products
Cognisant difficult position due to lack of control
BodyGuard - any oral med is extremly broken down (long way from neck to knee)... much more effective and shorter via skin. Getting micromolecular chemicals into skin very difficult "but we have technonoly)
Pre-production have now been manufactured by manufacturing parter. Ready to distribute to those interested in BG chemistry, and delivery chemistry
Whole move to BG is going very well, prototypes are advanced and companies are readying consumer programs
Uni is now testing Ibroprofen, OBJ has very great application. We want to drive active ingredient into the site of injury and bypasss first pass metabolism
Met with one of channel partners on that this week... So there's great excitement
Targeting 2018 for the year BG gets commercialised, either by ourselves or commercial partners
Hold great hopes for it in the future
Surface Hygeine - another great product
Continuing to evolve technolty to meet hygeine reqs
2 major MN interested. One met in UK this week
Working in how to make more efficeint use of anticeptic compounds to make gains
110% effective
Removal of mould
Removal of bathroom mould is a highly technical process
Our particu
Enhanced surface pentration
Enhance anticeptic efficienicy
Enhance interface betwen chemistry and cell walls
Has excellent growth potential

Corporate side
Engaged recruitment agency to replace new Chairman
Been in role for 12-13 yrs
Time for someone else to step in
Welcome to see how we go with that recruitment
Well underway
Spent quite a fair bit on patents
Patents are increasing in number but also increasing in costs
Quite expensive for company
Acqually decreasing overall costs
Can board pls provide update when company will be revenue positive besides from P&G
Keen to diversify and derisk from single source of revenue
Opportunity in hair care
Most likely with first BG product. Partner waiting for off-tool product to come off production line
One in USA, UK, Japan and Europe
Now keen on looking at models that are close to final product
2 of them want to use their own chemistry in the products... good because it provides wider use of BG
BG is extremely complex that's why we enlisted a manufacturer... who has done a great job bringing to final form
BG most likely after P&G, but not the only
BG targeting particular parties at this stage
Pzifer - Agreement next 12 months?
Not sought agreement from that particular company
Can only talk about companies who we have agreements with
Ibroprofen - Curtin Uni will be firt application using Kneeguard
Ibroprofen potential is huge - many companies use this chemistry as part of their product range
Broadening the results of Curtin to those companies
Don't want to mention companies without their approval
Provide a topical delivery route at least equal to the ones out there today
Quite attractive for many manufacturers around the world
Timing wise - underway... takes about 3 months to do all test, and another month to prepare results
So should be ready early next year
Board pls provide update on commercialision of oral, surface hygine, hair care
Surface hygine - going through validation programs
Very hopeful of getting linked in to at least one commercial arrangement with at least one product launched 18/19
Progress is going extremely well
Great deal of enthusiasm
We don't know companies' internal struggles
Oral health care has been a bit of a stop start
Started oral health with GlaxoSmith.. even tho tech was highly successfuly, GSK id not progress
But recently oral tech has been picked up by Oral B range group... progressing extremely well
Data from concept to proofs going well
Strong level of interest frm them
No technical objections so far
Very hipeful to move oral healthcare forward with P&G
Shaving a big diappoint
Whoe balde business very unstable
Disruptions by Dollar Share Club etc
Big boom opporrunity last year, market penetration of direct consumer shave club upset the razer blade and shaving industry
We don't except shaving area to stabilise in next 9 months
But expect partners to pick up inteest again and first place they'll go to is OBJ
Rsearch and dev before royalties
The R& costs are not delted ahead of royalties
Royalties in this industry are in 2-3% range
We get our R&D costs recovered before product is commercialised
Product commericalised takes place well before R&D, so no netting off... therefore royalty is clean
Will OBJ still be cashflow positive
Never said it will be cashflow positive
But we are not expecting to do capital raising soon
P&G says we have some good quarters ahead
Llcence feess comes close to operating costs
Focus on sustainable revenue
P&G making all the right noises... just not there yet
Can Directors give estimates of expected earnings in the future
Would love to.. would love to have repeatable format
We're only at start of this lcensing format
4 products are licences, only 2 hit market shelves
3rd this month
4th early in 18
Once we can have more repeatable nnumers, it's hard for us to have revenue forecasts
It's different if we have our own products in market - cos we'll know all data
But in this fast moving conumser goods market, very hard to get data to rely on
we had good meeting with P&G last week in SIN. Needs to be validated before we give indication of where our revenue train is.
We don't want to say anything we can't validate
Can th eB pls provide update re commercialisting micro needles
Not working with any partner on micro needles
Had potential a few years back, but not aware of any product using micro needles
In discussion of pharam - frightened becuase of production costs
Have taken a device we've designed and built with micro-needle applicaiton, and present to company looking for hot/cold patch... and in fact the chassis of micro needle device proved to be ideal
Whilst not wokring in this space, it's being replaced in a brand new space
The new Ibroprofen... how long before drug patch products will hit shelves?
Our market in this area has established industry players... one I met with this week
Dual challenge -
Bio challenge to match standard oral meds
Regulatory barriers
Difficult area to predict
Rather than spend substantial resources on OBJ to get these aeas resources, decided to use partners who have expertise and teams in place
Therefore time of market now in their hands
When getting apprivals for drug based products, you usually pass the market in years rather than months
That's why we've focused on consumer good space
What % of royalties aiming for
Licence tech or lience product?
Lience fees also on profit sharing.
Debating net prodict to be shared
Product is decided by licensee... in this case P&G
3rd party ignore all investment that OBJ put in
Which lends to higher licence fees
Looking for higher set of licence feees than if just technology
Fact that website has direct link
Dr B article was provided to shareholders as a 3rd party publication - we didn't write that
3-5% royalty was publishers point of view
FCMG space - royalty normal in 2-3% range, depending on volume
Not to say we can't get more royalties with BG, etc
Yet 3-5% still within range the company engaged in
Mineral supplements, disposable patches... are big companies no longer interested in BG VMS products
We can't actually talk about any of those major companies apart from P&G
VMS space - they have a place
Whilst we have had a good reaction from market, we couldn't show final product
That's why we partnered with Japanese manufaturer with tooling, who have now developed a near final product
On Accelerator - we met with one in SG last week... closely aligned with P&G. Terrific opportunity we will have a formal arrangement with that accelerator... not BG but another product
Another accelerator based in Chicago, interested in BG.. want to do consumer testing themselves. Haven't reached any commercial discussion with them. SG is more advanced.
Can the Board update re commercial progress with Coty
From Press, Coty acquired major brand from P&G, concluded only this year
Change to Coty's business resulted in substantial shift in management and R&D
Putting cap on internal new products
However, they have re-engaged, met with them and their senior new R&D smarts, and they're coming to speed with our products and clinical results... working towards bringing that to a head... Have a meeting with Coty next week to bring it forward
The agreement that's being negotiated with P&G has a carve out re Coty... contract does not prevent OBJ to work with P&G
Investor Roadshow 2016 - referred to commericalisation of Nurofen tube applicator - work with Ren
Part of OBJ's internal packaging concepts
What we were looking for and achieve, was how do we incorporate OBJ's formulations in high quality packaged products... without increasing R&D costs
2 products taken up by P&G
Several companies exploring options
Renkeizer dropped project, not sure why
But we still have a good relationship with them
The tube cap will find a partner relatively soon
What products will be released in 18?
We're told by P&G it will be launched 17/18... well on track. Separate product like other 3 products. Co-packaged like other 3
similar pathway like other products
There are very advanced plans for a very integrated product during that timeframe

Are OBJ getting any closer to a replacement to Glynn
Yes, in process
Once that person is on board, I'll step back and take a back seat til retirement
Address issue re resolution in AGM re ?
The employee share scheme... program that needs to be renewed from to time
Entered agenda this year
No directors will be involved... besides needs shareholders approval
Really for benefit of employees
Can Board pls provide update on commercialisatin on 2nd licence product, timing etc
The 2nd licence Agreement is very locse now... weith Legal ppll
Expect completed before AGM
Has timelins in it
They must give us luanch plans with intentions next 18 months
And must have products on shelves within 30 months, or we have right to terminate
Provisions in there that alow us to move forward
Will take a full year to get product out
1000 person trial (considerable)
Very exciting for company.
Please we have major like P&G picking it up
Final comments
Just wanted to finish off with... P&G multiple licences
Told by P&G they iwll icnrease microarray activities... extended to 2021
hopefully sometime next year, they're telling us, some of those revenues will materialse
We'll weel on the way developing our own products
Our own distributon of skin and hair products to go down value chain.. so we're not dependent on 3rd parties
Set up for growth in the comapny
Multiple arms of opportunities, not confined to one area or one partner
We're very very positive ging forward, and company is set to make a good statement in this fast moving FCMG
The overall scope of what we're doing...
Important for shareholders to understand that we're on the very ifrst step upwards
We went out to the world that against the force of physics, we want to drive chemicals without changing the molecular effectiveness
Took many years for these companies to understand that in view of their own products
P&G have taken our tech and said "consumers love this idea... it's worked extremely well"
800K devices now shipped...
We're breaking brand new routes
Most recent product launch was "extraordinarly well" , exceeding expections
Now engaged in even more complex and exciting platforms
Development of the 2nd tech will open up entire world of opportunities for the company
We're licencing the skin care model only, evetything else we're keeping close
I can foresee years of working with various partners, to integrate 2nd licence into multi and personalised products
New ultrasound techn we've created over last 6 months.. was in position to present to potential parters.. and they really liked what they say
Due to success of P&G, OBJ is known as the best placed to bring innovation to FCMG
We see this business to grow in leaps and bounds
We have great and new amazing new things to share with shareholders for growth and success
Glynn... one thing I forget to mention... we will do more of these calls in the future.