sce roadshows, page-64

Agree K1- The 11 cts figure was reflective of the sp at time of preparing the SCE report. Nothing more. SCE had to mention this in their report to ensure they had presented the story warts and all...cap raisings are part and parcel of running any developing Biotech.

That said IMHO - Any cap raising if required will be some time off...and if one does indeed occur... the funds will be deployed for late stage trials of POHs lead drug candidates.

This will be viewed as a positive by the market as it will signal POHs intention to extract the maximum value from its IP by delivering a fully tested and dersiked product up for sale to Pharma.

The currect SCE roadshow is not a funds raiser- there is no mention of cash to be raised in their presentations. While I didnt get along to the SCE presentation on Friday (unfortunately) I did hear from my broker that it was a slick and impressive performance. At least one client bought a large parcel on the back of the presentation on Friday- we also saw some aggressive buying at the after market auction on Friday...conincidence?...nah I dont believe in them.

What I do believe in is that this is a unique opportunity for accumulation of POH in the knowledge that there is very strong newsflow throughout the rest of this year which will include clinical milestones and the likelihood of postive anns stemming from our commercial collaborations with the likes of Novartis, Calzarda and CSL. Throw in some news of progress on our rollout of OTCs with Phusion Labs,the launch of more Personal Care products including the premier range of Elixia and then the icing on the cake- Cellucremes success in trials- and wow- we will have SCE banking their paycheque.

Ill personally hand out the vuvuzelas to blow at the $1.00 Noosa party at WLs rancheroo.

KC