there she is, page-3

There is a strong liklihood the funds were transferred to PCAS but it not impossible something else may be brewing under the water. I think you may be right though:

For those that are unaware:

WSR: Give us the working example of the existing partnership and the strategy behind that.

CMQ: The first one we have actually done - a very important one for the scale up and growth, and that has been on the manufacturing side. We are already manufacturing on a commercial scale, but having to expand all the production does not make a lot of business sense. We have gone out looking for someone that we can take our technology and get them to partner with us to provide that capability to produce product as demand requires. We announced late last week a very advanced letter of intent we have entered into with PCAS who are based in France, well-used to handling our raw material, which is acrolein, and is an active pharmaceutical ingredient manufacturer. That partnership, while the core is the actual manufacturing, also goes broader in looking at other work we can do together for example in relation to acrolein. It looks at how we can come together and provide a feeder arrangement for early-stage technology in Australia into that manufacturing as well; it also looks within to whether they are the opportunities we can work together on in the European market on cosmetics and industrial applications. So yes, it’s broad-based, taking our technology and continuing to develop it. We’re looking to do that, in not exactly the same way, but in a similar way on the commercial side, taking the different applications across the world, the development of the human health, the development and commercial exploitation of the product in the cosmetic and industrial markets. It is about working with a partner who has got the experience and the knowledge and the relationships and the connections in the particular market that can assist us to take this interesting, revolutionary technology forward.

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