Media Reports, page-178

SPP strategy has been great over the past 12 months, hard to find a better risk-adjusted return

In terms of RSH you've hit the nail on the head- I expect Australian sales to be disappointing (they have given guidance of $6-8m revenue this year which I think will be difficult to achieve). Without validation of the product in the home market I believe the US and UK story will be harder to sell. These rollouts cost a lot of $$$ to execute and it's not as if they will suddenly become $ flow positive by launch date. In terms of SP I have no idea which direction it will go- but I am firm in my belief that the company is not funded to launch in US, so will be raising again sooner or later.

Concerns about pricing model haven't been allayed- no validation yet... I am not confident that many will be keen to pay $10 a month for 2-3 years for this app...

I don't see the valuation as justified right now until there is proof of the model in Australia (if no one wants the product in Aus why would they in US/UK?). If Australia smashes it out of the park then I'm happy to admit I am wrong until then just 1 share for me please.

I really do hope the product helps some people with their asthma but as a business I don't feel like it stacks up- time will tell... ALL IMO DYOR GLTAH....