Ann: PharmAust to present at NWR Virtual Healthcare Conference, page-110

Buckland if you paid attention you would see i have been fairly severe in my criticism of PAA of past. This is not the canine trial, and MT is not Roger. Dont believe me? Look at the shareprice.

Now. Why am I not buying. Well, in my second last reply to you I clearly stated I still see a significant amount of risk here. I dont believe its a given, and I think we are only slightly skewed in our favour. Many mind blowing phase 1s have misrerably failed phase 2. So right now my risk profile is what im comfortable with. I also hold enough that if this does end up block buster it will be life changing.

Despite me seeing risks, I also such much positive upside. ODD, other pre clinical work, perhaps partnership, even before the phase 2. So I think there is a good chance I'll make more on my investment, even from here. So I aim to be balanced and objective.

Now whats different with you. I hold because i see risks but i think the upside potential outweighs this. You ONLY see the negatives, so what upside do you see?

Im not against you or against criticism of the company, historically they have earned it. I gave it to them.

Do you see any upside potential? You must...or you would sell at these all time highs.