Ann: Co-Marketing & Licence Agreement with US Dispense Vendor PDX, page-13

It wasn't a personal attack, just a tongue-in-cheek observation. There's been a number of Price Sensitive announcements over the years, which clearly demonstrates progress, to which your response has been 'meh'.

I do agree that (local) organic growth has not been on the same trajectory to what occurred in 2016. Upon listing in December 2015, MDR started with 100k. Subscriber numbers have been increasing by the hundreds of thousands per quarter, now it's tens of thousands and it just hit 1M a couple months back. Management have planned for this by having a war chest to increase numbers through acquisitions. The war chest is even bigger now with $10M from EBOS.

The Company is well funded to complete the integration, with a current cash position of $10.8m as of 30 March 2018. The Company accordingly has significant capacity to continue its domestic expansion and to progress international opportunities.

I'm going to post some blue sky stats so take with your preferred white powder. Numbers posted are utopian but not totally unrealistic as the analysis and data is taken from reality and previous financial statements.

https://www.asx.com.au/asxpdf/20170320/pdf/43gxcf5jtd5r7b.pdf
https://www.asx.com.au/asxpdf/20180226/pdf/43rxv58shjh0lz.pdf
https://www.asx.com.au/asxpdf/20171024/pdf/43nhy8887x882p.pdf

• ARPU is ~$9 per subscriber
• Average number per patient per pharmacy ~346
• MedAdvisor in approx 2500+ AU pharmacies
• There are 10,000+ pharmacies in the US that use the PDX dispense system

That suggests with this single agreement with one dispense vendor and forecasting 'pie in the sky' numbers we have access to 4x times the number of pharmacies that MDR currently have a presence in AU. Revenue with 2500 pharmacies is $3.25M. Revenue (from just this deal) has the potential to surpass $10M after integration is fully realised.

Robert Read, CEO of MedAdvisor commented: “This agreement is the first step on the path towards commercialisation in the U.S. Dispensing systems are the backbone that enable pharmacies to order and receive medications for their patients and integration with a market leading dispensing software in the U.S provides us with the first piece of the puzzle to securing a position in the U.S market.”