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All,

I am still in this dog, only because I don't see any urgency about getting out immediately, now that the shares are trading at a discount to the cash position of the company.

I do credit those with a bit more flexibility that I have in managing their shares who have bailed out, however and I wish them well.

I share the concerns about the management of the company, and as I sit here writing, I can't imagine what sort of mental or interpersonal processes lead these people to the decisions they take.

Worse, what ever they do, they do an absoultely execreble job of explaining themselves, and leave many crucial questions not only unanswered, but unaddressed.

Take for example the long struggling ADD programme. Is it still alive, or has it been scrapped along with everything else?

How about the Joint Venture with Neuren? How is that faring?

What is the status of the osteoporosis research? Are there any positive indications at all in this research?

What about the Oral Delivery Platform - has the company been able to deliver any test peptide at all into a research animal's bloodstream via an oral administration?

What steps have been taken to enlist funding from a big drug company to undertake a research effort to convert a commercial peptide?

Is this "proprietary platform" patent protected? Is it possibly patent infringing? They could clear this up by letting us know about the status of any patents that may have been applied for.

Importantly, exactly what was the result of the ACV1 sciatica trial? it isn't good enough to merely say that it was "overshadowed" by a petri dish experiment.

Is there any value at all left in this company, that has never delivered on a promise, and never earned a single penny? It is up to the company to demonstrate this, if indeed they believe that do still have value.

They need to come to the marketplace with a solid business plan and a credible team of managers if they hope to see Metabolic Pharmaceuticals do anything from this point forward other than to painfully and slowly coast to a complete stop sometime in 2008.