how about a meaningful update?, page-9

Hey Twin

Anyone would think you are the CEO !

You have exactly summed up the value chain proposition for ADO.

They are holding out for a smaller percentage of the massive pie by adding Mix n Go at the IVD point rather than taking a larger percentage of a small entry point earlier in the value chain.

There is a bigger gain to be had by getting in with them as we can engage on other applications. If we only access through DYNAL we lose the real value of an ongoing relationship with the IVDs.

DYNAL means $30m pa and a 200m market cap. But IVDs mean $100m+ pa and a market cap. Of $500m+ and access to muc much more.

Big stakes game that will play out over years but I think ADO is now locked into cash flow positive status from 2013 onwards so a really nice derisked play into something that has the potential to be counted alongside ACR and others of the same size.

I believe ADO can trade over $1 one day. If it does I just hope I had the patience to keep some . . .