Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-108

Hi Zior..plausible but...

I never said high SOI equates to a poorly managed company rather many may perceive it to be poorly managed...some not all..I'm sure google will back me on this one..

Having a high soi can also become a kinda snow ball event..

Let's assume imugene raise November 24 and we have failed to gain in MC..probability could say the next raise will be far more dilutive than the last cr imu undertook..and as soi increase with each forthcoming Raise the soi blow out more and more and more exponentially in order to raise a satisfactory amount.

Anyone who thinks that last cr is done and dusted is kidding themselves..due to the amount of shares issued and options and price imu got it will have an effect on future raises regarding how much existing shareholder are effected by dilution when one considers this exponentially effect..

I get your point Zior regarding people's ability to glance over the history however I believe there still is a huge difference in a want to be investor perceived views regarding investing in a company WITH massive soi vs WITHOUT massive soi..this is where the strong fundamentals vs weak fundamentals come into play..

Now back to that take over talk which could happen no doubt in my mind..

the buyer wont care about how many soi the company has..it will do its due diligence on what it can get out of the deal and come to a fair price based on that..it may not consider SOI yes...

but

for the shareholder the soi will determine how much they get out of the price paid..so the more soi the less the shareholder will get as the price paid wont be determined via soi rather value for the buyer..

would u not consider that an effect Zior..

now

zior...dont you think potential want to be investors will be thinking about what they themselve hope to achieve..

im still not convinced Zior your soi thinking holds any weight however that being said again love reading your posts

dyor just my opinion and never advice