germany, page-34

Look at the Preliminary Final report from 26Aug08:
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"...(regarding dividends) the Board who will be in a better position to make such a determination following the September 23 2008 final ruling on the German SAR Appeal......".

ASX announcement on 24Sep08:
"Ipernica advised that the German Supreme Court called the parties to attend a hearing in relation to Ipernica's appeal on 23Sep08".

The language of 24Sep08 is significantly at variance to the language of 26Aug08.

The former (24/9) seems hastily put together, as if by surprise. The latter (26/8) seems definitive.

What is known is that the 23/9 hearing was well known to IPR (given the 26/8 comments) at least 2 months ago, given also the ASX announcement of 17/7.

Add to this the further comments of 24/9:
"...the judges have adjourned to deliberate. A decision is expected within a few days".

Look now at today's (25/9) announcement:
"A hearing was held on 23Sep08 in the German Supreme Court and Ipernica is taking legal advice on the court's ruling prior to reporting to the market".

In the past, Ipernica has been very fast at breaking news to the market.

The language here seems to suggest that Ipernica has been caught (in some way). The language is also quite different, as IPR has gone from:
...a decision within a few days (24/9);
to....a decision has now been made (25/9).

Even the nature of the ASX announcement today seems hastily prepared, as if reacting (rather than leading).

Consider yesterday's announcement which appeared on IPR's announcement letterhead ((in full colour) with Graham Griffiths as the contact), to today's faxed copy with Trevor O'Connor as the contact and on a different form of letterhead.

Today's announcement appearance is just not the same as yesterday's.

The hearing on 23Sep08 was in response to Ipernica appealing the earlier decision of the German Patent Court which held that IPR's German SAR patent was invalid.

Ipernica appealed. And the German Supreme Court seems to have now decided the outcome of that appeal. The question is, in who's favour.