Ann: Corporate Update , page-30

Most unusual market reaction to what appears to be a very close approximation to a capitulation annmnt.

Sad to see how they have misjudged this opportunity by throwing heaps of raised capital to the winds.

Has taught me a very hard learned and expensive lesson.Be very careful of such a company over extending itself before it gets decent cashflow/margin operating.

They really should have tried to push Penumbra along much earlier and its hard to see why they couldnt given the amount of cash they had.

WHERE HAS IT ALL GONE???