Ann: Market Update - Progress Report, page-23

Agree post development. At the moment the market is discounting the potential company valuation due to the risk of not having a product. There's a big difference between not having a product and then having one. Once AKP have one, which could be announced sometime within the next couple of months based on the progress described in the announcement, the downside risk is substantially minimised and conversely the upside risk of a buyout is substantially heightened.