Novelna, page-4

I would think only their word to be honest. They have never disclosed any competitors recently. Most they compare to are DNA blood tests (clever).
Burnt many an investor.
Seriously, how can a company lodge an application to the TGA which was flawed so badly, omissions etc etc
They only wrote off the stock to add to their R&D claim with ATO. They said something like it would be used for R&D purposes.
Puh-lease!!!!!
Did they mention in Annual Report the bad press/news articles and their self made problems with TGA? I don't know to be truthful.
The boxes of the rubbish test kits probably already in land fill and you wouldn't be allowed to do that either (with a syringe in the kit) but desperate times calls for desperate measures.


Quarterly Report 31 January 2023 excerpt
✓ Australia - Therapeutic Goods Administration (TGA) Approval for ColoSTAT® for sale in
the Australian market:
✓ The Company filed its complete submission with the TGA for the listing of
ColoSTAT® on the Australian Register of Therapeutic Goods (ARTG). The TGA
has acknowledged it is assessing the filing, with no further formal correspondence
being received; outright lie
✓ The Company acknowledges that the review process has taken longer than initially
envisaged when filed but notes that, due to Covid-19 and a backlog in medical
device assessments, the median review period of the TGA has lengthened,
particularly in regard to new medical devices; and
✓ The Company and its advisors remain confident in the validity of its filing and will
update the market accordingly as further substantive progress is made great advisors!!

For those new investors that have not been following this debacle take a look at the TGA submission, TGA questions, RHY responses and the end result.
This would have to be the worst TGA application and result ever of any recent ASX small cap companies.

https://www.righttoknow.org.au/request/10701/response/32283/attach/9/Document%201%20AR.pdf?cookie_passthrough=1

Why am I harping on RHY? ASIC won't, so hopefully the more I post on here, the more have second thoughts. I have said time and time again, I am sick of penny companies stooging mum and dad investors of their hard earned money. It is not about risk and reward in a company that earns no income. It's more about what the company tells shareholders and what they omit to tell. Management and employees are effectively employed by you the shareholder. Never forget that it's you that give them any chance of success and are able to put food on their table at night.
This company deserves to go nowhere.