They held the EGM today. As usual (and I love this) David Williams (the Chair) made a few points and then opened it up to some questions.

Here are some notes I took:

• First of all...if you are opening these meetings up to online participants....they need to get the Audio working perfectly. If I was some fund...thinking of investing....and had logged in today...and not been able to hear or understand the CEO....i'd just switch off and go look at another company.
• David William discussed part of the board discussion that was had today before the EGM. It was put to the IIQ management....can we speed things up / are we going hard enough developing tests for as many cancer types as possible. Leearne (the CEO)…..gave an answer I could not hear. Audio was cutting out (on their end). However, David's mic was a little better (but not brilliant)...but I believe his answer was....the ExoNet that is sold / provided to researches...the terms and conditions for use means that IIQ gets a cut of that test if it is commercialised.
• David then went on to provide some feedback from ExoNet customers. It is working well for customers…those customers having breakthrough tests. Audio cut out here...but I think he said 'some of those customers were testing shortly'....so not sure what that means? Again....if you are selling a message....the audio needs to be working!
• David then had a short discussion about the low SP. He did note that a large shareholder had been constantly selling from about 55 to 65 cents….they have 'their own financial situation'. But he did note that they had almost sold out now.
• David also went on to say why it might be hard for a large investor to buy into an illiquid stock. ie no big investor going to buy 5 million shares when daily volume is tiny…cause they can’t sell out if they want. But once we have the ‘story’….they will come. 
• I then asked "IIQ management always talk about having lots of shots on goal. How does David define a goal?". David provided a number of answers.
• 1 - A successful test is a point. A successful therapeutic is a goal.
• 2 - He then realised that he should tie that into the SP and said "but any one of those tests would result in a very large SP/movement up"
• 3 - More shots means more chances...its a numbers game....so that is why we want to partner with other prople doing research
• 4 - Keep working on all options (same approach to how he got (i hope successfully) married).
• he then rounded back to his inital remark, about wanting to 'broaden' their base/have more tests developed for more cancer types. He said within a month (i was surprised by this timeline) he wants a report from management how they will do this. He said it is likely be a mix of internal research and partnering with other external researchers.

Some observations:

• We are getting to crunch time now (next 6 months). IIQ has lots of great research that has spawned a bunch of tech. But can they sell/commercialise it? They need to sell the SubB2M products.
• I think the CEO has been doing a great job with the research team and moving through the different validation/approval steps. BUT....who is going to lead the selling/commercialisation. I think we need to hire a 'heavy hitter'. Load them up with loads of options.
• I'm a little alarmed how few questions were asked. Only two online questions (one being mine)...and one person in the audience. I know David is doing more webinars etc to broaden the message. I just hope that they have someone in the IIQ team whose role it is to go out and sell the IIQ message to funds etc. David has a lot on his plate (not just salmon)....but I think they need someone full time in a commercial type role. This goes back to my point before.

What did others think?