$10 Billion Deal, page-3051

J8,

Most of the selling at a profit took place late last year. At current prices there are very few sitting on a profit. The vast majority are sitting on significant losses. Either because that purchased during the hype that sent the stock flying from 2.8c to 45c or because they are longer term holders who handed over their cash during the IPO or one of the many capital raisings which were generally above 10c.

I know that many of us who coughed up 11c per share in the rights issue a number of years back and who were still sitting on those shares plus our original investments didn't look when the gift horse opened its mouth and offered 35c+ per share as an early xmas present. 2m lighter as a result.

Sitting on a holding in this company for around a decade has given me ample opportunity to see the cycles amongst the hope, disappointment, euphoria and general confusion that surrounds each trial results announcement.You have been around long enough J8 to know that the Disallowed salesmen turn up and ride this horse hard on each and every results announcement. BITs actual drug hopes and progress get completely lost in the fictitious and fantastic hype that follows.

At this point there will be very few holders sitting on a profit and those that are will almost certainly be wishing that they took some of that profit when the price was 600% higher than it is now. It would be an odd trader / investor that didn't.

Anyway, here's hoping that the company has some good news coming and for once it doesn't get hijacked. History suggests that it will be at least another year before we see such an announcement. Really would have liked to see a deal signed but hopes of that are drying up and the SP is reflecting that.

We can blame it on the bots, the down rampers, tax loss selling or evil spirits but deep down each and every one of us knows that if a deal was imminent the SP would be rocketing like it did last year. We saw what happens when the flame of hope is ignited under the stock. Now we are watching as hope begins to become exhausted. I've watched this cycle occur many times. Sadly its usually quite a long wait between cycles. I hope this time is different. The good times are definitely more fun and it would be nice to see a drug finally go to the next phase.