ocu-mix, page-10

Karl,

On 28 March you wrote "I feel very good. Production on the way, plenty of cash for the next year, and more contracts on the way. Is it taking longer than I would like. Yes. Does that spell disaster. Hardly. Unilife is in a far better position than it was one year ago or even 6 months ago. Those buying at this level will feel very, very good in 6 to 12 months."

To me, the past two months have demonstrated continued progress. Not as fast as I might like, but the installation of air handling units, fitting out of black space, hiring of new employees, along with TDA's observations lead me to believe that the company is moving forward. Aside from the lack of additional contract announcements, we're getting closer to beginning production.

Why the sudden change in outlook? Seems you went from very positive to very negative (and a bit personal) in a short time-span.