update, page-14

PNO keeps increasing its staff and has its own lab and production facilities(although rented). But I get what you're saying. In particular "our" sales staff are all contractors and paid commission not salaries. But our cash burn has been as high as any in this end of the market.

Their is no doubt we need to make things work. Needing cash while our sp is this low and with our history of raisings. I think we'd get hammered.

But if I compare us to ISN as an example. Again, slightly different. We're a drug and they're hardware(asthma). But we both have product on shelf. Both limited sales. Both with future products/patents. But ISN is near $12mil. So double us? Why? Im sure we can move higher based on these comparisons alone.

I'm not sure we can run to dizzying heights. We have to many cheap convertible notes and performance options, then followed by PNOOA. So their 'should' be a wall at 1.2c, because fully diluted that would be right up their for asx listed bios.

But I'd be happy at 0.8c and that would probably make my options worth something. We have a long way to go. But the re-rating should start when we launch two products and by years end some solid numbers should start to emerge.