Thoughts on IMUOD?, page-154

Oh yes it does!

18 August 2023

Dear Mr Hopper

I am very disappointed about the current CR.

So far there is no comment from IMU whether the new licence is a great asset or not. And if it is the best thing since sliced bread, why giving a huge discount and free options that just have devalued the IMUODs to almost nothing.

Don’t tell me you had to lure in the instos with a huge discount, if so, why jumping on the licence. Why not completing the existing pipelines first, selling them and then buying new ones. And if this was an opportunity too good to be missed you had enough funds to make the initial payments, drive the sp higher and then raise capital once the huge value would be transparent to the market.

I trusted and defended you and the Team IMU since 2015, but now I am deeply disappointed, especially losing the IMUODs due to the senseless issue of the free new options. Don’t tell me you are losing some of yours too due to the expiry of employee options, you can always issue new ones for yourself and the team.

Don’t tell me I can participate in the offer to get a few free new options. That will never ever compensate for the loss.

You better come up with some new data about the CF33 trials to get the sp up, otherwise I will join the other shareholders to support the board spill.

Not happy at all.