Ann: Appendix 4C - Quarterly, page-6

I agree with your assessment of the numbers bioqld.

By RGS’ current projections they have about 3-4 months worth of cash left unless they draw further loans. The 5 odd million did not go far in strengthening the cash balance and our investments have been diluted in the process. But unfortunately this is all just a part of life in this space and is necessary for a company who generates no revenue and cannot strike a deal that provides upfront or milestone payments.

RGS’ language in their announcements implies certainty in getting this deal done. But it has been this way now for well over a year.

They really need to pull this off. I believe that when they do this will jump easily to 14-16c. Depending on the strength of the deal, it could even get over 20c.