Ann: PYC Quarterly Investor Call - August 17, page-26

In the long term PYC are going to need to raise more capital in some form or another. It would appear that the best place for that is in the USA where therapeutic development companies are more easily able to access capital because there is a more in tune investor community in regards to therapeutics.

On the assumption that we are more advanced with the developments underway, in turn our valuation advances / increases.Raising funds at higher levels obviously means less dilution for those of us that are current shareholders .. it is all about timing, there is a fine line between needing the money and the stage at which the science is at.

They will have to achieve successful outcomes at a speed that is in line with the cash burn rate and that is what they will be juggling with. Its a rather long winded way of saying they want to increase the value of the company to say 70 cents a share (2.26 B) before more money is needed / raised by either a USA listing or an investment by a Pharma / Bio bank or whoever.The ultimate prize ... for me at least ..would be that the results are so outstanding we all just get taken out at $1.57 a share (5 Billion MC no other share issue)