Ann: PARADIGM RECEIVES FEEDBACK FROM US FDA ON IND SUBMISSION, page-90

Diversification is over-rated. Anyone in finance should know of Fama and French and be long around 15+ stocks accordingly. The reality is its too many for retail investors to stay on top of in terms of news. The model, as much of finance modelling based on volatility as a risk - diversifying minimizing volatility risk to a portfolio. Personally I see volaility as an opportunity, loading up on more yesterday at $1.95 for example.

I am poorly diviersified across sectors however, with too many great bio-tech prospects in Australia right now to resist at great valuations, including PAR of course. Its probably been a very hard year for you Mozzarc, preaching the merit of the stock whilst watching it go backwards. The science has not changed. The regulatory progression has gone forward. The market is what it is alas. This company remains a great prospect and better value than ever.