100M shares ($15M MC). EV of ~$6M.

I am agreeable in that regard, TaoAgrarian and bought some more on Friday.

RHY represents excellent value here (read low risk, high reward)...

By way of background, the company raised $9m in the IPO ($8.792 remains) - 100.75M shares on issue ($15M MC). EV of ~$6M.

Quality mgmt with relevant experience to achieve distribution...:

- Headed by Dr Trevor Lockett – over 30 years of research experience, predominantly at the CSIRO.  Voluntarily moved from CSIRO to continue to nurture, develop and commercialise ColoSTAT.
- A powerful Board in the medical industry including Shane Tanner (Chair) previously of Symbion Health and currently is behind Paragon Care and Zenitas Healthcare; and Lou Panaccio, the former CEO of Melbourne Pathology and Monash IVF and currently a long-standing director of one of Australia’s largest blood pathology companies, Sonic Healthcare.

Fundamentally the story remains intact, just on a better entry basis (refer EV of ~$6M above):

- The play is derisked by CSIRO for over 13 years, including a clinical trial funded by BUPA.
- Based on protein – low cost of entry with profit margins will come in at approx. 95% at a cost of roughly $90 per test, compares to several hundred dollars for molecular test equivalents.
- It remains a well-funded clear commercialisation play over the next two years (which is short in biotechs), and
- timelines remain consistent with what was marketed within the prospectus -  completing and securing/control its own biological reagents, refine the technology into a robust in vitro diagnostic test, validate its clinical performance and seek to obtain regulatory approval to sell product in Europe and Australia in the first instance, at that stage, RHY would be trading at $1.00-2.00+.

However, with junior stocks in times where there is a news void liquidity & interest dries up, which is what RHY is going through.

IMO The op is significant from here as this will turn around fast once the news void indigestion clears. Bear in mind, this sort of dumping is normally a sign the seller is nearly exhausted. For example, if the seller had a lot left to sell, they'd clear them more 'smartly', so as not to push down the price...the register supports this thesis .

Cheers,

5x8's.