Ann: BGT Shareholder Newsletter and Teleconference, page-4

I listened to the conference this afternoon. Some of what was said included:

Purpose is to put more context around the newsletter

Frustrated about not being able to share with us the names of the companies they are working with and how they are evaluating out technology.

Many additional global partners in conversation with that will follow.

Much stronger position than where we were in October.

No offer of rights (exclusive or otherwise) to any potential partner at this stage.

These companies are putting in a lot of money and time to their own investigations.

The nature of design of trials are much more thorough than in the past. This can give way to particular commercial applications.

Talking to so many companies because product can have relevance to a number of different markets. Trying to talk to multiple companies in each space. Ensure we get traction as soon as we can.

Questions:

Why is a deal taking so long? The companies are very big top tier companies have complex internal processes that are difficult to navigate. Sounds like ti will still take a while.

Why did you believe a deal was imminent in October? Was talking to one particular company that said out tech would be fast-tracked through their internal processes. Is still a much slower process than anticipated.

Are the companies testing efficacy on only one pest? Companies are testing in many different ways. At least one company is focusing on a narrow market. Others taking a more general approach testing multiple crops, etc (This is good because that gives us access to a large number of tests that we don't have to pay for).

Are these companies co-investing with Bio-Gene? Yes. They are paying for all the tests they are currently doing (and bio-gene co-owns the results).

Why can't you name these companies? A contract says so.

Have any potential partners decided to not continue? No. These companies are continuing to test. Everyone is currently on track.

Could you progress to commercialisation on your own? Pretty much, no. Partnership was always the plan and is the best approach.