CEO presentation - one of the best I have seen., page-29

Hi investie, surely there comes a point in time when a company has the ‘substance’ to back up the ‘pump’ and actually proceed onwards without the ‘dump’. Normally a pump is to the detriment of the average RI, ... this time around?, in fact would not a appreciating sp be to the benefit of RIs, as in Mercer having to ‘buy in’ at 2 and half times plus their last buy in? Normal pump here was a prelude to a CR, this time around this has been negated by the back up of the Mercer deal.

News has been positive, funding of 20 mill, all going well, R&D coming to the pointy end and with a appreciating sp further funding via options being taken up. Current sp from a low of under $4 to current $9 plus is hard to discount despite the huge overhang of SB exiting, (personally at a loss of why they would have copped this loss).

Yet to check the current holding of SB, end of January, it was, I believe, 110 000, barra; do you have a update for end of February?

Is the ‘disconnect’, as WP as put it, between current marketplace cap and ‘true value’ being finally realized, and the sp actually beginning to reflect that true value?, ....time will answer.