$10 Billion Deal, page-1752

Hi Mal,

I understand why you would say (and feel) like it is tough to make an informed decision in relation to not having all the information that may be available in relation to BIT, in particular, the very important data you have mentioned above in which is currently not yet available. So for what it’s worth I’ll be a little bit less of smart a ass than my current batting average with this reply.

1. The data you have mentioned, and/or any other information not already available for that matter, is in no way is preventing you from making an informed decision as to whether you determine to invest in BIT, today.

2. The reason why you feel as if you can not make an informed decision is simply because you are categorically aware that information that is unavailable to you exists, and in addition to knowing it exists - it would be reasonable to say with certainty that this information is critical to the value of BIT.

Now here’s why you are exactly informed enough to make decision.

1. If you agreed with my statement in relation to the information that is currently unavailable being critical to BITs value, then surely you would agree with the statement that; Once this information is made available, BITs share price will move, and the move is likely to be substantial (for better or worse - we’ll have to wait and see)

2. Now, if you’re still with me and accepted that the SP will move with the release of the said information - well then surely you can see that not having information now does not prevent you from making an informed decision to invest today. In fact, BIT’s SP is valued accordingly to the information not currently being available.

3. You’re concern isn’t truly (now look deep inside to your heart) that you can not make an informed decision. You concern is you that you know this investment has a high risk and until the information is made available, well, you have zero way of knowing which way the SP will move when it is released. This is the nature of Investing. The trial data is exactly that - it’s just data. You are not event the relevant market for this data as the data’s true value is not found in evolution, it has value until commercialisation. Which is what you really want to know - is this a sure thing or not.

4. Why the above distinction between investing in BIT versus investing in their data is important is because that is the difference between investing and consuming. You can invest right now at 8c a pop exactly as informed as (and with the exactly the same risk off loss or of diminishing returns as) anyone else - and if things go well, you may see your investment develop their IP into a commercial product and enjoy the wild ride. If that does not occur, we’ll that’s the risk you take. One thing is for sure... You will not able to buy BIT at 8c a pop if they do announce a partnership or commercialisation deal, if that were to happen. If BIT are actually in any form negations currently, it is likely that an announcement in relation to that will come before the realise of the data and you will have missed the boat.

5. It comes down to trust - and whether you have trust in BIT, believe what they say, believe in the people of which comprise the company and in what that may be achieved by them as a whole. You are informed, it’s up to you. There’s nothing wrong with having an aversion to risk, this one a far more risky stock than it is a less risky stock. It’s definitely not a sure thing in my eye at the moment, but i see BIT and being something far more worth getting more excited and less excited about.

6. It’s a fun stock, either way this thing goes.

7. I miss Tez1. Is he still in the sin bin?