Ann: Half Year Report and Accounts (including Appendix 4D), page-23

page 76 of report "As of December 31, 2020, our cash and cash
equivalents were $77.5 million. We expect to continue to incur significant expenses and increase our cumulative operating losses for
the foreseeable future in connection with our planned research, development and product commercialization efforts. In addition, we
will require additional financing to achieve our goals and our failure to do so could adversely affect our commercialization efforts. We
anticipate that our expenses will increase if and as we:
• continue the research and clinical development of our product candidates, including MPC-150-IM (Class II-IV Chronic
Heart Failure (“CHF”)), MPC-06-ID (Chronic Low Back Pain (“CLBP”)), remestemcel-L and MPC-300-IV
(inflammatory conditions) product candidates" no mention of Ryoncil or SRaGVHD or ARDS. Someone else noted that the Ryoncil name was dropped from on the ARDS study name. Maybe something is imminent here in relation to Ryoncil? Also, if approved, there is an immediate reversal of the $18m in stock that was expensed through the manufacturing costs

Could the biggest piece of news be this on the next page 77
As described in Note 1(i) of our accompanying financial statements, as announced on February 26, 2021, we have commenced a
proposed equity-based private placement to a targeted industry investor to fund operations. The placement will close in the first week
of March, 2021 at which time cash proceeds will be received. Closing of the contract is subject to customary conditions. Proceeds
from the offering will be used for working capital and to prepare for confirmatory trials in lead programs as per FDA requirements.