Ann: Response to ASX Query Letter, page-116

In short, the probably too well-publicised mistakes in recent video promos etc and the missteps in comms that we're seeing highlight the continuing development and execution risk in all micro caps of this type and particularly G Medical. We have lots of reasons to be bullish but we have to accept that this is not fully derisked by any stretch and there are hurdles and challenges that must be overcome by the mgmt team. We should temper our SP expectations accordingly.