Taylor Collison Report, page-7

Yes Taylor Collison have been involved in previous capital raises on behalf of RXL as you have documented. In fact they were the joint Lead Managers with Canacord Genuity who acquired Patterson's Securities which was one of the companies AP worked for prior to joining RXL. Historically Patterson's have also been involved in Capital raises on behalf of RXL.


I suspect the cash on hand number was extracted from the last quarterly which would have been the latest publicly quoted numbers. No doubt this cash number is less based on recent outgoings. Given the declining cash position and the prior relationship with TC & CG it may also provide clues about the next cap raise? AIMHO.

The forward plan was a nice surprise as it has clarified certain important deliverables. In saying that it is essential that AP comes good with those forecasts to re-establish credibility. We now have moved from a drought in communication to a downpour which is pleasing and hopefully will continue.

I agree the peer comparisons are useful in that they now put in perspective where RXL sit and does, at least at a high level, demonstrates the value disparity in market cap.

The next 7 weeks are going to be interesting!