Pondering, page-10

I think we are also forgetting the non infant formula part of our business. Dairy products is (relatively) low margin but ultra high volume industry world wide. This is why progress on the Fonterra front is so important. Cream, butter, cheese and icecream on a large enough scale would bring in more revenue than infant formula does at this stage. Its just a matter of whether the a2mc can gain brand recognition in new countries. USA and Fonterra are what will bring diversity to the a2mc revenue stream. I think progress in China will be good but the thing I am most keen to know about more is details of new products through Fonterra and progress in the USA. If the a2mc became as popular in the US with fresh milk as it is in Australia, the revenue from the US alone would be more than the total infant formula revenue. That doesn't include things like coffee creamers and butter plus other value added products.