MEM 2025, page-207

So with the decline of the share price from 1c what has changed for the company. Well really it's just the SP going down due to inpatient holders and the CR that was done. That has been completed and the shares have been issued. So what do the holders of those shares do with them? Are they planning on holding them for now and selling once we get to say the 2c mark to cash in and get those options on the board. I wish they'd done listed options as I will likely forget I hold them when that time comes. Top 20 list could be interesting to see, who bought in the last CR. So what are the possible moves forward from here for the company.

• Brazil. This was interestingly brought up again, having the NDA in place is great. At any time i suggest it could lead to something. The fact we haven't seen anything on the animal front yet is disappointing. But who knows when that may change? Brazil very big with cattle.
• Felix, Vitrolife, very disappointing. But again, the good thing is we could ramp up at any tick of the clock. We don't know what is happening there. Same with NZ or Canada. I still maintain that Zymot is selling in these places, so why would Vitrolife just sit back and let their biggest competition have a fee market? Coopers is just laughing all the way to the bank with an inferior product.
• HeraNova may be the best option for us, as Vitrolife have been poor. I like that they would also take on the manufacturing of the Felix. This likely would mean royalties and a lump sum payment to get us out of this hole Alison dug us into.
• Felix in Animals. This is my biggest hope TBH. Low reg market and it wouldn't take much to start selling into it. Horse testing happening but it was clear that they could see sales within the first year. Started in Sept/OCt? thats 7 months on the board, so......who knows?
• RoXsta, nice that we get to see the prototype or is that the finished product? Same company doing the design again? Maybe we'll see another award, just like the Felix got for the design?

David knows the Cr's are killing us, David knows we need money, lets hope that Heranova do a better job in China than Vitrolife has done in Japan, Canada and NZ

Heranova Lifesciences HK Limited’s testing of the Memphasys Felix Device aligns with China’s push to enhance IVF outcomes and accessibility. The Felix Device, which separates high-quality sperm for IVF, addresses male infertility—a growing issue in China, where environmental factors, stress, and lifestyle contribute to declining sperm quality.

• Testing Progress: As of January 6, 2025, Heranova is conducting utilization testing of the Felix Device in China to validate its performance in IVF clinics. This follows clinical validations, such as a 2025 Monash IVF trial showing Felix’s superiority in sperm selection. Heranova’s exclusive distribution agreement for Greater China positions it to support China’s IVF expansion.web:deepsearch_previous
• Regulatory Efforts: Heranova is likely aiding Memphasys in pursuing NMPA approval via a “Green Channel” pathway, which aligns with government efforts to fast-track innovative medical devices.web:deepsearch_previous
• Market Impact: If approved, the Felix Device could improve IVF success rates (currently 30–40% in China vs. 52% in the U.S.) and reduce costs by streamlining sperm selection, supporting government goals to make IVF more effective and accessible
• Felix Device Potential: Heranova’s testing of the Felix Device could enhance IVF efficiency, but its impact depends on regulatory approval and clinic adoption. Claims of Felix becoming a “gold standard” should be considered once Chinese markets are proven.