38 vs. 89, page-6

1. It has been ~5 years now that they have been marketing and selling the Axiron product. I thought by now they would be much closer to commercialisation and distribution of another (meaningful) product line.

2. Overpaid staff

3. Lack of compliance and shareholder communication. A trading halt should have been requested during pre open following the FDA announcement night before

The FDA announcement in Sep I personally did not thinking it was a big deal. A more detailed warning label is required.....but investors read it as extremely negative - please correct me if my understanding of this is wrong?

Cheers