Ann: Application for quotation of securities - PAR, page-26

I can only see PAR raising 30-35 mill in the next few months, not the full amount needed since there are no guarantees that PAR will pursue PARA 003. We still don't have an IND for the confirmatory trial and PAR will probably need to submit data from PARA 002 before getting the go ahead for 003, so it doesn't make sense to raise for a clinical trial that may not even take place.

It looks like instos are waiting for the results for 008 before committing funds. An interesting question is whether PAR will raise prior to or after the release of 008 results. In other words, will PAR help to pay off shortsellers i.e. by playing both sides or will they make them suffer.