Ann: Appendix 4C - Quarterly, page-19

I hate it when they make us wait all day!

BTX 1503 - ACNE

BTX 1204 - Dermatitis

The third wheel. Derma. 200 patients should give us some excellent data upon results. Provided they all finish and it works!

BTX 1308 - Psoriasis

Maybe they saved the full data package to help soften the perceived CR blow. Haha.
Don't forget that on 14 or 15 June a presentation was provided to an advisory board at the World Congress of Dermatology in Milan. Why on earth would you convene an advisory board meeting if your data wasn't significant? Don't also forget how big the Psoriasis market is.




BTX 1801 - Antimicrobial

I bet they are itching to continue studies and data collection on this. Hence, where I think some money will quickly be going.
I think this data may have been one of the catalysts to the cap raise. This recent data may have opened the door with Cowen, we'll never know. The significance of this data may have altered MC's course a little, who knows.

The Cap Raise - IMO it's a good thing. Yes, the price could have been better, but the amount and where the majority of it is coming from is excellent. Yes, did I hate seeing that some of it is coming from Aussie Brokers, sure! But as someone mentioned, and I suspected, I'd say MC was obliged to do this or chose to throw them a bone. Hopefully, they'll hold on to some of the shares this time! Getting this much money all at once is an excellent idea. The business is scaling up and obviously expenses will increase.

I stand by my comments regarding the CR not happening in the near future. Was I wrong, Yep. However, I had received information from multiple sources, verbal and written leading me to believe this was the case. MC had been quoted, and it had been written also, that phase 2 trials were funded. We can scrutinise all the announcements and reports we get, but we have to place some trust in what's being written or we'll never invest anywhere!

I'll give MC the benefit of the doubt on this one. Yes, he probably did mislead on a minor scale. However, they were always going to need money and this CR sounds like an excellent fit for BOT. I believe there is plenty of method to the madness that MC and Vinnie are up to over there in the states and this could be a beneficial step to a partnership, a US listing or something else. We also don't know how long the discussions have been happening with Cowen. It could very well be a recent thing. Vinnie picked up the phone, set up a meeting, MC turned up in his boots and talked skin, Cowen said sure how much you want? Anything for a mate of Vinnies!


Let's not get too carried away with the negativity. We all (well most) mean well on here. I apologise for my bluntness if it offended anyone. Now...let's see what this CR announcement is going to look like!