Ann: Appendix 4C - June 2018 quarter, page-13

This just demonstrates how misleading some of the comment on the micro caps is. The movement of IVX was all related to the deal with the chinese group and the introduction of the cancer asset and had nothing to do with the respiratory assets. IVX has stated a number of times that they are not putting any effort or money into the respiratory assets except to try to market them, an excerise that has been practically their sole focus for about eighteen months without success. It is shameful that any analyst should apportion any of the recent stellar performance of the share price to the respiratory assets.