Jay and Elecfra, I agree with much of what you say, and...

Jay and Elecfra,
I agree with much of what you say, and appreciate your comments and feedback.

I would have liked the SP to be closer to .10, especially on the current performance and announcements to date, as I too loaded up quite heavily at 6.2 / 6.3 on expectation of an announcement before the Merck deal, only to see it slide.

Elecfra, you say "the announcements to date are a little? wishy washy?"
I have had a chat to CEO Geoff following your comments and he has defended the way they have announced any news to date, by saying that when he writes an announcement, it then goes through a couple of checks and then the legal team gets a hold and waters it down to an acceptable level for them, as they dont want to be purceived as being financial advisers especially in the case of the last announcement re Southern Cross, or appear to be overstating their situation, thus potentially over inflating the SP.
So understating has been the company position to date.

Geoff has obviously been made aware from other investors of their displeasure in the subtleness of the announcements, as he has told me that he will be reviewing the legal requirements and precedents of other similar company announcements so that they can report in more detail in future, without risk of overstepping the mark.

Geoff is incredibly enthusiastic about where the company is heading, and expressed his personal disappointment at where the SP is at the moment considering everything they have achieved to date.

Alecfra, you mention the burn rate of cash, but considering there is about 100 Mil 1.2c option remaining to be converted at the end Sept for around $1.2 Mil, and a 6.5c option due on Feb 1 2011 worth around $6 Mil in revenue, I think this company is in great shape financially for some years to come, as long as the SP goes beyond about 7.5c by end of Jan, which, all things being well, definately should IMO.