Ann: Change of Director's Interest Notice, page-77

1. I can't see how the lack of announcement of the 3rd dog is an issue... I don't even see it as market sensitive. What is market sensitive, is the COMPLETION date of the dosing (23/12).

2. As I've previously stated, we will know results for the entire COHORT when they're released, not just individual results. A basic understanding of probabilities will demonstrate this is a positive, given that the overall performance of the drug that has been proven multiple times is a better announcement that those with fewer participants.

3. To say that the Directors have not increased value to shareholders is offensive. In the last 12 months the Directors of PAA have increased Epichem's revenue, re-formulated PPL-1 for canine consumption, received ethics approval for canines and patients, engaged in a research collaboration & option agreement & commenced two phase 2b trials. Please don't confuse "value" and "share-price". They are very different.

4. Want to cherry pick any more data/dates? Which Pharma section are you referring to being up 19%? 12 months ago PAA was at 1c..We're at 0.9c with less than $15k on the offer til 1c.

5. So one minute you want positive results so that you can make a profit, but don't want to be diluted? If the results are positive (which I think they are, otherwise I would have sold regardless of my entry price), the dilution doesn't bother me, try and find a Change in Directors Interest announcement which shows a Director selling... they don't!