NEWS OUT, page-82

Ellume are currently only producing Covid tests at the moment.

Back in 2016 Anteotech signed a 5 supply agreement with Ellume as a supply partner for “optimising” Ellume’s tests.

Recently AnteoTech have stated that they had delivered increased supplies of raw materials to Ellume with increasing volumes forecast over the coming quarters.Anteo also stated in general that some of the increased raw materials supply was due to the Covid pandemic.

I think you will find that the Anteotech December 4c will see continuing strong cash receipts from Ellume. I would assume Ellume are not stockpiling our product for some future non covid tests but that they are using it now and for their Covid test.

So why don’t AnteoTech just say they are on the Ellume covid test?.. because we have an existing supply agreement with Ellume and that covers sales for whatever purposes Ellume wants - we will not be getting announcements each time Ellume releases a new test.The same may go if we do a battery deal with Panasonic and say they then chose to supply Tesla - we will probably never find out specifically that Tesla may be using our product, if it is supplied via the likes of Panasonic.

We generally won’t and are probably unlikely to give out specifics on our customers business - the earlier announced supply agreement with Ellume in this case will be it alas.... well that and increasing quarterly cash receipts from Ellume which can only be from our product going into the only test that Ellume is producing ... their Covid tests.

Also Ellume doesn’t have to tell Anteo what they are using their product on. Anteo will know but the issue is that there is no new seperate contract here for the supply of Anteobind for the Covid test as it is covered by the original supply agreement. Anteos hands are tied and they are perhaps frustrated themselves that they can’t announce to it to the market. Instead Anteo can only drop a bit of commentary here and there in their quarterly updates to provide holders with some idea.