Quarterly Trends, page-7

Excellent 4Q16 results. The updated charts below tell the story.

Operational expenses are markedly down apart from staff expenses, which has seen a one-off increase due to the change from a contract team to the Company’s own sales force. The significant improvement in sell-through to pharmacies is important.

Some serious cash is beginning to flow in, with receipts more than double that of the previous quarter and at 270% compared with a year ago. The FY2016 figure of $3.89M cash receipts is up 248% compared with FY2015.

Net cash outflow for the quarter of $232K is excellent. Previous quarters have averaged a little over $1M in operational cash burn. This has resulted in only a minor change in cash held at the end of the quarter.

Japan already profitable.

There appears to be is every chance of achieving a cash flow positive position by the end of 2016.