Ann: Chairman's Address and CEO update, page-12

Dude, its a $2.5 million company. Of the 2 or 3 investors left who might still read these threads, we are all well aware of the history. The only thing RGS has left of any obvious value is its IP, so broader developments in stem cells; CYP massive phase III trial with Sydney Uni, MSB's and any other regulatory advancements for example, will have value effects on that.

I would not overly disagree with anything you said, though obviously a lot of (understandable) bitterness there that you should perhaps direct at the company, not me.

They are indeed not "substantial" but RGS does of course have phase I results in Progenza and plenty of academic publications therein. Absolutely the company management ballsed up this company, but they still 13 patent families across Australia, Asia, Europe and the United States. There is value in that and clearly there is value in the IP or Kyocera Corporation, who indeed this lot cocked up the Progenza partnership with, would not have paid up some $7 million AUD to date before they pulled the pin, on what was clearly alleged by RGS as timeline development failures of Kyocera - now they clearly should have managed that far better even it were true.