todays meeting , page-27

Auto - in the middle on your right.

I agree a CR is inconsistent with most of the statements, but so is the statement that they may invest in more advanced external products. If the latter was to happen then anything worth investing in would probably cost more than the current worth of the company and thus would severely impact on current shareholders.

Given the rather long timescale involved with the monetisation of LANI the current share price may (or may not) represent fair value. Notwithstanding, I'm optimistic about the long term future. I think that it is worth the opportunity cost of leaving my Biota shares in the bottom drawer. I just hope that I don't die, or run out of money to live on in the mean time.

I don't really care about any other product, or the long term product development. I have always thought that LANI, alone, would be sufficient to ensure a reasonable valuation. LANI, is not without risk. There are other anti-virals in development and I forgot to ask about competitive risk.

The idea of acting as a clearing house for small shareholders is a creative one (by Barney1), although I for one would not be taking up any offer to sell my shares at the current price.

There was an interesting observation made at the meeting that only a small percentage of shareholders have registered with a broker to transact Biota shares. I'm one of them who has not. If the share price was a little higher then I would become a little more interested. As far as I am concerned there is too much liquidity at the moment such that it has allowed the price to decline.

I agree that there probably won't be too much price action until the successful completion of phase II, so will re-evaluate at that time. Maybe I will send in the form and look at trying to purchase a few more shares closer to the phase II completion.

And I also agree that dwelling on the past wont do one's health any good or change the course of future events.