Ann: Half Yearly Report and Accounts, page-30

That may be true...however there are a lot of moving parts to the ADN strategy and not having a approved PERP ( let along a submitted one) just adds to market uncertainty so I can see why we have market hesitancy. Having said that..we just need to be patient and tick things off one at a time and insure that expectations on dead lines are realistic...nothing undermines confidence more than constantly missed milestones.
Looking at the half year financials ..the management team is very heavily incentivized via share options/performance rights etc. to achieve those milestones and on due dates .
It may be frustrating looking at a static SP while we watch other junior development companies see their SP's heading north...but patience will be rewarded .