Ann: Investor Presentation - 14 November 2013 , page-2

Not much here that has not been said before so a little disappointed. Don't think things are as bad as suggested by other posters. However when stating that costs are being maintained at a minimum (approx $5m) certain expenses have been taken out - particularly R&D amortisation. IMO they shouldnt be. Will be interested to have a better read of the Annual Report to see how much has been allocated to the R&D amount in the balance sheet (and thus out of the profit & loss statement) and from that certain other queries may arise. IMO the R&D amortisation should not be omitted from the costs as it is a cost of doing business by Acrux. Anyhow if they can contain their costs to $5m per annum and a royalty of $25m expected and theres still plenty in the bank does that mean that the $25m royalty will be fully paid out as a dividend?. Anyhow will have a closer look at those financials to see what else has been allocated to balance sheet for future amortisation. SP Tried hard to bounce back today but just couldn't keep that momentum happening. Still can't see reason for the investor presentation - IMO there is concern at markets perception of how the company is travelling BUT please note that its just not cost issues BUT also revenue streams that appear to be of concern to the market.