Ann: Appendix 4E and Preliminary Final Report, page-21

fair enough but I didn’t think my original comment was “snippy”. Merely an observation and an opinion. I’m not comfortable with spending more capital (no revenue yet obviously) on remuneration than on R&D in a company at this stage of its development. They will just end up doing CR’s at lower and lower prices just to pay wages and further diluting existing share holder value until they possibly rerate based on the positive outcomes of said R&D. If they also believed in the science as much as they tell us (shareholders) we should then They would be happy to take a large portion of their pay in options and shares leaving a greater amount of capital reserved for research.

it is similar in some ways to small mining explorers doing big CR’s and then not mobilising drill rigs quickly, all the while sitting on the capital and paying operational expenses which are mostly remuneration. We’re not paying them to sit on their hands, we’re paying them to try and make discoveries. Often these are described as lifestyle companies by burnt investors. it’s not a perfect analogy but I’m sure it gets my point across well enough.

Im fine with other people disagreeing with me, different opinions make a market.