Ann: PAR Appoints Business Development Consultant, page-155

I agree with you Mozz. We still have to try to
improve our bargaining position with BP or for
that matter MP. The only way we are going to
do that is to at least get 002 and 003 underway
and hopefully through to completion and
readout. Because of poor cost projections and
CR bungles, we are in this present precarious
position. I forecast a year or 2 ago we would
have circa 500 M shares on issue before we
gain regulatory approval from FDA. Looks
like I have been a little conservative.

Say the present circa 350 M shares, blows
out to 700-800M, I don’t think it is a tragedy.
Bad case scenario (not worst case) we
raise another $80M @ 20c. We may well be
able to do a bit better then that. That should
surely see us through to a partnership that
we have negotiated on good terms for us.

I still think despite the dilution, that our share
price has a great chance of many multiples
of the present. Good luck to us all.