SUDA This week, page-12

Hi Pogues

20 cents or a 200 million market cap is very reasonable in my view. It really depends on a couple of things, first the initial deal will need to be the migraine drug and the deal will need to be substantial. Once this has occurred then it will validate the IP that they have patented and will allow analysts to extrapolate a value on the other Sudamist products which could see some pretty hefty valuations delivered, remember the first deal is but the tip of the Iceberg.
The second thing that will determine the value of the company is the selling pressure which will surface on the release of any deal. The register is still very much dominated by Mums and Dads and private investors many of whom have been in the stock for a long time and will make a v for the exit at the first opportunity which will keep a lid on the price initially. I feel there is a real chance that as the value of the drug estate becomes more quantifiable that we will see Insto's moving in especially if our higher market cap levels allows them to take a position.

Clyde