Ann: Notice of Annual General Meeting/Proxy Form, page-324

Hi Ben

Thanks for the kind words. I don't post often, prefer to read posts from some contributors including yours.

The point I guess I am trying to make, and lol I know this might open a can of worms, but people seem to be caught up on the ATH share price, vs where we are today. And I don't really believe its fair to make that comparison. The company and their pipeline is in fabulous shape today.

Markets move and overall market sentiment changes, including across sectors based on risk and overall economic health. Why is it that the same brokers that were in some cases paid to give valuations, value us less now than before? They were two different sets of market conditions. The company has by far progressed since then.

If share price was based on potential (potential deals vs already realised deals by BP) alone, I too would value this company in the $$$. Alas I don't think the market doesn't works that way. Again I think Imugene is in fabulous shape to deliver long term.

To me, whilst I absolutely believe in the company's strategy, people and science (which is demonstrated by current trial results and the growing pipeline and assets), true value will be represented when trial results are undeniable, and there is a contract on the table ready to be signed, i.e. cash flows ready to be reported. Till then whilst I might look at the share price and scratch my head like everyone else, I'm not going to let it wind me up as it seems to for many on this forum. There is time still to pass before we get there.

For holders, value is only realised when you sell, till then, it's only your potential return on investment.

So yea, before people think to upset the apple cart because they aren't happy with the markets current valuation of the company, sit back and look at what has really been achieved, and where the company is heading.

And yea, all this is my opinion. So good luck in your investment and decision making.

P.S My other commentary abt board spill was a hypothetical. Sometimes better to deal with the devil you know as they say, and I don't begrudge the people that are doing the work from being rewarded if the company is heading in the right direction, which IMO they are.