Thanks CallahanI don't want to see any changes to the Board...

Thanks Callahan

I don't want to see any changes to the Board until both European and USA Distributors are locked in. After that, I would suggest:

Mathwin is ready to retire now. Costello seems to be up to the task, but her sycophant style annoys me. Haifer is a must stay. Barnes stays on Board as long as he is CEO, more about him later. Popper stays for her FDA consulting expertise (crucial) and other (alleged) Industry connections.

IF 5 sales not achieved by end cy18 the blame is shared equally by Hettich and LBT. As CEO the role of BB is to implement the policy created by the Board. So unless BB is knowingly overstating sales projections he is doing his job properly. If we are stuck on 1 sale come 31/12/18 the Wisplinghoff order will be imminent anyway.

I am not convinced the over promising and under delivering is all CCS' doing. We are dealing with a Household Name distributor in Europe whose first requirement is to add an MRSA analysis module. This will increase the potential market to 70% of all test performed globally. This equates to an increase of ~15% by volume world-wide; before we even start.

My guess is the distributor elect is one of the top 5 in Europe with MC of around 100B Euro. So they are going to take as long as they see fit. And once the distributor has taken over the role of CCS will be simplified to manufacturer and software support via LBT.

The distributor might engage CCS to develop more modules and LBT might develop new modules on spec. Basically once the distributor/s take over APAS it's their trainset, as was bioMerieux. Our success is going to be largely driven by the choice of distributor. The due diligence we has seen to date suggests to me we are on the right track.

Regarding BB. It strikes me that once the Distributors are in place, the BB can resume a more traditional CEO role. He is presently charged with reporting non-financial performance to a bunch of Shareholders who only deal in Financial terms. His time might also be spent on the some of the client stroking he did at Cochlear.

My thoughts on Resolutions 1,2 & 5 are - 50M for 10M against.

GLTAH