Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-4

The company has re-confirmed all of most what most posters were saying and tried to explain to the
circumstances surrounding the NASDAQ listing without an IPO

1. So that variables associated with listing on NASDAQ were under IHL control
2. Due to weakened conditions in NASDAQ Biotech Index
3. IHL has adequate cash anyhow to fund current trials
4. Reserves right to Raise funds in future as guided by EAS and ROTH
5. At a better time of choosing with improved market conditions
6. More time to prove to market with upcoming current and new trial announcements

Glad Board has detailed these circumstances a little more clear.

GLAH