Ann: Notice of General Meeting/Proxy Form-PTX.AX, page-5

hi Psych101, thanks so much for your thoughts. Be assured I am my own mind and make my own calls on my" investments".

In saying that I do not ignore the immense individual and collective wisdom expressed on HC generally and in this forum specifically. Your posts are of particular value along with some others on this forum.

My background is law but in another domicile so I'm not 100% up to speed with Aussie Co/ statutes but they are on the data bases I access daily so within reach.

You raised a valid and interesting point regarding the directors statuary discretion to raise capital following a formal CR and SPP offer. My instinct is that they cant then resort to the regs for a further 15% in the same year but I'm not sure about that at all.

What comes to the fore here is the tension between the companies need for capital to grow as against the share holders interest in preserving their interests. I suspect that this interface will forever be.

The consolidation coupled with some poor PR at the same time had a brutal effect on pre existing holders and that while being history is not forgotten. The opportunity to "average down" is obviously available and I will as I have take advantage of that. I reflect for one minute on the past as my then holding of 500,000 shares purchased at a little over 1 cent became 25,000 shares valued at a little under 10 cents. My holding has since increased so the divide has been decreased.

I am optimistic that in the near future we will see some outstanding clinical results with increasing interest from the market and pharmas . I am heartened by the fact that the Co/ has been able to raise capital at ease but I am conscious of the effect of dilution and placements to entities that have not endured the history that SHers have.

Lets see whether this little gem go's the distance in the good company of the long term share holders.