$40m placement, prof ian frazer partnering !, page-55

Well they did not leak market sensitive info to me. Thats what I should have written.

They can not confirm or deny any part of the article that appeared overnight. They have no idea where the info came from. All they will say is the board have the share holders in mind and are figuring a way to raise the funds so everyone wins - He also mentioned that he had seen nothing in the hard press - don't know why that would make a difference. (read into that as you will)

As far as NASDAQ is concerned, the answers to the last round of 5 questions from the SEC (which the 4b from last week was part of and sounds like it was to answer more than one of the questions) have been sent off to the American lawyers and are due to be submitted to SEC early this week (about now)There is usually a two to three week turn around from the SEC. There is no guarantee that these will be the last questions from the SEC. Some of the 5 questions were to do with the way they finished off with Springtree.

In short they have made no announcement because at this stage there is nothing to announce.

All of this comes from a short conversation I had with Phil (Client Manager) at PRR - Please do not quote myself or Phil as this is not word for word.

He did use a word when referring to the article over night that suggested it was ridiculous but I cant recall the exact word - idiotic are something like that

I hope I am not misleading anyone with this info.