Ann: Issue of Options, page-7

with a commsec strategy like this...
Company Strategy

ACR intends to progress candidate products a significant way down the development path, ideally until the end of Phase 3 clinical trials, as the potential value capture more than justifying the risk of failure. A product already in market validates the core delivery technology, significantly reducing future development risk. ACR engages marketing partners to commercialise product. The company may out-license technology for development where it considers it has inadequate expertise or resources. Acrux reported NPAT down 58% to $2.14m for the half-year ended 31 December 2012. Revenues from ordinary activities were $5.13m, up 9% from the same period last year. Revenue from Axiron increased to $4.4m (2011: $3.1m). Basic and Diluted EPS was 0.01 cents compared to 0.03 cents last year. The net operating cash inflow was $2.25m compared to an outflow of $4.51m in the pcp. No dividend was declared.