Ann: Change in substantial holding, page-11

Yes, they have well and truly stuffed up the sales execution. And agree the AU success gave them a false perception of potential speed of market uptake in the US.

I do also blame the Board for allowing this risky execution which was built on high cash burn with an all or nothing approach. They could have focused initially on one or two regions and perfect the sales model instead of spreading themselves too thin across many regions with little agility to adjust sales model.

I don't know if there are any other sales distribution networks for this kind of specialist tissue expander/implant device sales skills outside their competitors. Last thing you want is an ill informed sales group screwing up potential big accounts. If they could negotiate some kind of partnership with a competitor, however, it would be a very positive sign and signal to the market a potential takeover (similar with what happened initially with GE/NAN partnership, though a takeover looks off the table at the moment).