Ann: Shareholder Update - December 2015 Quarter, page-18

Add to that NO mention of GSK, the waffle about Coty and the fact that in 12 months time there will only be $4million (max) left in the kitty so another CR will be needed (in their view) and we have a pretty poor update with no new signatures, a renegotiated license (as yet unsigned) and no revenue in prospect for at least another year - and that's being optimistic! I think management have a few questions to answer. Oh yes, that's right, they can't say any more because of strict confidentiality!