VW, I only have the Shaw and the Edison reports. You may need to...

VW,

I only have the Shaw and the Edison reports. You may need to email Wilson.

I have reread the Shaw report. My concern is not the size of the market or market penetration

"We have based our longer term revenue forecasts on the basis that Medline is able to reach 10% of the US market by 2020 and that SVA can penetrate 30% of the Australian market during the same time frame. This could prove to be conservative" (Shaw report page 11)

but margins. Until we get some real data it is difficult to value the company, and that will probably take until at least the end of the year.

They also run pilot studies. Whether they charge for the pilot is unknown.

The other unknown is the possibility of Medline taking over SVA.

Mal