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Our company gave us a forward projection for the use of our cash reserves over the next 12 months back in September last year.

In that report there was no mention of the latest USA acquisition and in fact they they stated that the cash reserves would be down to $6m excluding overheads of $2M and any sales revenue.
Simple math says that we would have $4M left in the bank plus any sales revenue and at present that ain't much at all.

Now we have to deduct AUD$3.5M for their latest little venture leaving us with about $500K in cash reserves plus sales revenue.
Why the hell did they do that without first firming up the reserves certification and concentrate on getting some money in before spending/allocating it all.

I said before and I'll say it again, I smell somthing and it ain't gas. Smells even more like a planned consolidation followed by a planned placement to keep the fat cats happy.
I've seen it time and time again when a company executes a successful placement, the money's in the bank so bugger off shareholders and bugger the share price.
How do you reckon the poor shareholders at $1.25 currently must feel, if they are still there of course.

Gorman may not be on the same wicket as he was with BHP but I'm thinking that BHP were smart ones here and MPO has been played like a fiddle along with us.
And more dilution coming up as yet another round of "incentive" options will be issued to the incoming Director.

Not looking good Gorman & Co, lots of very unhappy campers sitting out here in shareholder land. You will not get one more cent of my money until you lot start performing and who knows when that will be or if you actually can.

How about a simple phone call to the labs and letting us know what is going on and why the further delays. Keeping the market informed is your duty after all.