Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-38

Hi Humpy.

I don't think anybody can quantify the actual chances of that. It certainly can happen. At this point and based on Biotron's previous actions my bet is on it happening the other way around. Its possible that the results will be during the CR also.

Just remember that a CR offer period is open for a while. They need to SP to hold up until the end of the offer period as many / most people sit on the fence and wait to see what happens until forced to make a decision. You don't get the new shares earlier by paying up day one.

All of this said they aren't supposed to hold back results and time them for maximum benefit so we shouldn't assume that there is a plan here but the odds are shortening on the timeframe for the CR whereas the timeframe on results looks more like being pushed a little further than "coming weeks" given today's statement.

Best wishes and good luck. Its going to be an interesting 2 months.