prophase financials, page-13

Does Prophase matter much in itself?

POH got actual cash of $1m. The shares may or may not have any realisable value; certainly not liquid at book value, or anywhere near it currently, despite their rather optimistic treatment in the Balance Sheet. If nothing materialises & Prophase goes bust, the $1m a straight gain with arguably no actual loss.

The downside, of course, is another vaunted project that has so far come to nothing. Taking johnfisher's point re visibility in the market, what POH need is an actual, realised, cash generating success as opposed to a spread of promising possibilities.

Until then, as he says, difficult for the market to be confident in the stock.