Ann: Appendix 4C - Quarterly Report & Brief Company Update, page-6

Furthering discussions with Novartis, has always been something PAA have stated, as a big selling point, to keep investors interested, but never have we had any evidence that any discussions have taken place at all.

Not sure how flavouring the product will increase efficacy??? It may help compliance with administering the product in trials, that is about it.

Again, nothing new, and now we have burnt a million bux, and the rest of the capital is being chewed up in big Management overheads etc. Time is against PAA, we need results, not rehashed info, otherwise we will be doing another capital raise in 6 months, and at 3 cents this time.

More money is being spent on upgrading facilities at Epichem. The business creates good revenue, but the overheads are enormous. If your revenue is 3M, and you employ 20 odd phds, pay for rent, equipment, consumables, power, other amenities, licenses, superannuation, pay your tax and pay for expensive directors, the business is not profitable. It is pretty simple mathematics, Epichem is a distraction. It's not a profit stream, and as we know, companies are valued on their profitability (EBIT etc.), not how much they receive in payments.

We need actual tangible evidence that the company is progressing...............Until such time............

The price is going down from here.