CEO number 2, page-7

Your wish is my Command WPD

Q2 2010, when Carter was appointed CEO Eastland had commenced a 4 country Phase 3 Confirmatory Clinical Trial which was designed to provide the clinical data required to support the submission for regulatory marketing approval, to date the company still does not have regulatory marketing approval and it’s unclear if a submission has been made.
The clinical trails continued through 2011 with the highlight being the news that Thomson Reuters had listed Eastland’s lead project ArTiMist™ as being one of the 5 most promising drugs to enter into Phase III trials. During 2012 the Phase 3 trials were finally completed in Q1, by year end the company had also engaged Canadian based Therapex to manufacture the registration and validation batches of ArTiMist™ which was successful.
The name change to Suda Ltd was announced in December 2012 and a few days later a new funding agreement with Bergen Global Opportunity Fund was secured, under this arrangement the company could draw down up to $7.6M over the following two years. This arrangement would further dilute the shares on issue and put additional pressure on share price. During the Bergen funding period the company issued a total of around 84M shares to Bergen that raised a total of $2.3M.





The funding allowed the company to continue with the ArtiMist project and pursue new opportunities in the pharmaceutical sector. A few days after the name change and Bergen funding was announced the news came the Suda had secured the option to acquire the NovaDel Sub-Lingual technologies, soon the company would no longer be a one trick pony.