today's announcement

I have read the below announcement several times, and still fail to see how this could be construed as negative?

What it does though for me is add a few more questions....


Following the completion of that initial phase, OBJ
and 3M have agreed to extend the testing and to work closely with OBJ?fs partners.

- Who are the partners? Does PNO fit into this? If there are "partners", should there be an announcement about who they are?


?gOBJ is pleased to announce that 3M has confirmed its interest in working with OBJ?fs current or potential clients in patch development and/or contract
manufacturing following testing performed by 3M Drug Delivery Systems?f laboratory in St Paul Minnesota.

- Contract manufacturing. Does this mean that OBJ will pay 3m for the manufacturing of the patch to meet the needs of any deals acquired in the future?
- Is 3m now the sole manufacturer of the patch?
- Mention again of "current, or potential clients". If there are current clients, should there be an announcement about this?


Glyn Denison, Director of OBJ commented, "With the number of partners that OBJ is working with worldwide, it is important that OBJ has the ability to provide
professional development and manufacturing facilities to the highest possible
standard.

- Number of partners working with worldwide? Who are they? In what capacity are they working together?
- Is there a product moving to production phase?

Continuing our relationship with 3M fulfils that need and allows OBJ to offer a full range of development and production programs to partner projects
supported by 3M Drug Delivery Systems technology and production expertise".

- Again, are we moving to production with a product?


Under the existing Materials Transfer Agreement (MTA), 3M has studied the invitro performance of two transdermal patch formulations coupled with em?]Patch micro?]array formats, with some encouraging results.

- Should results be released, or are they confidential? What does "some encouraging results" mean?

Pre?]existing clinical program commitments at 3M Drug Delivery Systems facility will require the rescheduling of current testing. OBJ and 3M have agreed to a further 6 month extension of the MTA.

- This concerns me, however also raises further questions. Firstly, a 6 month extension of in vitro? Secondly, who is paying for the extension? What is actually being tested?
- How does OBJ continue another 6 months if it has no incoming revenue, or worse, is the one paying for the trials?


OBJ and 3M will work closely in patch development and manufacturing services to OBJ partner companies and will further explore new opportunities in pharmaceutical, consumer and consumer healthcare fields.?h

- Again, manufacturing services to partner companies.
- Further explore new opportunities. Not a bad thing at all in my opinion.


OBJ has traditionally been a transdermal drug delivery company focusing on drug patch technologies for the pharmaceutical and therapeutic markets. While this remains a core area for the Company, recent technology innovations have allowed the Company to extend its partnering and product developments into the larger consumer and
homecare markets.

- I thought this was great news! Diversification is the key to longevity in business.


The Company?fs ability to enhance products in the consumer healthcare, oral health, skin care, hair care and homecare areas using its physical technologies rather than chemical, has given the Company access to global product
opportunities with faster time to market and lesser regulatory barriers.

- Where is the negative here?
- Faster time to market = quicker revenue!

The Company is now actively engaged with a number of international companies across a variety of product sectors in the USA, Europe and UK.
Partnering discussions, product evaluation and Proof of Concept studies are underway with leading international brandname corporations in the fields of non?]prescription therapeutics, oral health, skin care,
cosmetics and hair care.

- Does this need to be announced to market? Product evaluations? Partnering discussions? What companies are we talking about here?

The continuing relationship with GSK and the recently announced Statement of Intent from a major multi?]national FMCG company is indicative of the level of ongoing interest
in the Company?fs technologies by major international corporations.

- When does GSK's short term evaluation finish?
- Who is this mysterious FMCG, and why, after several years of involvement, do they still not want to be named?


The recent appointment of Dr Kevin Hammond as International Partnering Manager reflects the Company?fs expanded activities in the personal and consumer care market.

- Still think this was great news a few weeks ago.


Dr. Hammond has over 30 years experience in the consumer healthcare and therapeutic market in senior positions at several major companies and is providing the Company with high level advice as the Company engages with an increasing number of potential partnering companies, most of which are based either in Europe or the U.S.A.

- Does the good doctor work solely for OBJ? Is he employed on a contract only basis?
- If he only works for OBJ, then that has to be a major positive with the above information.




So in summary, I can't see any negative news out of this announcement???
Maybe if you are day trading the stock, or looking for dividends this year......but surely the sell off over the past 10 days can't just be short termers leaving?

I have been positive on the stock and company all along, but.......the recent sell off pre-announcement really does seem strange. The sudden change in sentiment following the ASX query, and subsequent down turn?
Who placed the query? What were they trying to gain? Did news of a longer extension leak out?

I think we have further announcements to come this week or next on this one. The pile of unanswered questions seem to be getting higher than the answered ones.

OBJ also needs to hire an investor relations specialist. These ambiguous and guarded announcements are really becoming unprofessional.

Good luck all, I'm still holding, for now at least