Ann: Chairman's Address to Shareholders, page-28

I can only judge them on their recent past performance. The last few years has seen a remarkable turnaround. This gives me a lot of confidence for the future.

I once made the mistake of telling Lev that you can't win every time. He nearly choked on his meal. He didn't exactly agree with that statement. I am grateful that he never coached me in any form of sport.

Successful entrepreneurs and coaches have a different way of thinking to most of us. They're prepared to change tact overnight if they can sniff an opportunity that will give them an advantage over their competitors. If the demand for Alusion continues to grow, they will find a way to meet that demand. Getting out of a somewhat restricting agreement with Merck has already proven to be a great outcome. I believe opportunities will flow for Alusion once a few issues are ironed out.

There is always a few new faces at these meetings. Having the borders shut limited numbers this year. Publishing questions and answers was a good initiative.