form f-3

On the 7 June 2004 Prana released a 59-page prospectus relating to release of 7 million American Depositary Receipts (ADR's). Contained in it is a section entitled "Risk Factors", warning prospective purchasers of the risks associated with the ADR's. When I read it, it sounded rather ominous. Included in the rhetoric is stuff like this -- "there is a high risk that we will not be able to complete the development of PBT-1, PBT-2 or develop other pharmaceutical products"; “we have limited manufacturing experience, and delays in manufacturing sufficient quantities of PBT-1 or PBT-2 for pre-clinical trials may negatively impact our business and operations”; etc. Since I have only just recently bought PBT, I couldn't help but wonder what the effect of such statements will be on the Australian SP. Does anybody wish to comment?