Ann: Annual Report and Notice of Annual General Meeting, page-38

Yes, as you can see 2018 wasn't the only time they set the expectation of a commercial deal as a human trial neared completion. 2009 was pretty much the same. People just need to keep any comment made by a company in reasonable perspective. That announcement was part of a CR which was necessary because funding had fallen below $1m. Some may think that this sounds familiar and that may be because its exactly where BIT is now.

Of critical note is the second bullet point listed below to justify the same CR at the time:

"Your support of your Company at this time is critical to:
- Completion of the Phase Ib/IIa Hepatitis C virus ('HCV') clinical trial.
- Ensuring that commercialisation negotiations following the completion of the HCV clinical trial are undertaken with the Company in a position of financial security"

So back then they thought it critical to go into any commercial negotiations in a "position of financial security". Biotron's own words. Whats the financial position now?

The above was Mar 2009 but its also important to note is that on 10 Dec 2009 they then went back to shareholders again (9 months later) and did another CR. Then again in 2011, 2012, 2014, 2015, 2017, & 2018. The massive funds raised in 2018 after mother of all pump and dumps is now also nearly gone. By my calculations they have raised (and spent) approx $43mil since that announcement and the kitty is nearly empty once again.

The question I have is how they will raise capital this time. They have used so many different mechanisms over the years. Some successful and others quite disappointing. They do have lots of experience with CRs though and in the end they did discover one sure fire way to raise money which was very successful. I assume with those lessons in hand they will be successful if they announce one soon.