Same again next year Peace. If they were very careful with their...

Same again next year Peace. If they were very careful with their cash they might stretch it to the end of the year with another 1.5-2m to come around the same time. If they land a deal or 2 between now and mid next year I expect they travel through to 2016 as they have shown the deal can be worth a mill or 2 up front.

Best case is they get the good news flowing and a couple of million which takes them to 5-10c and they do a safety CR for $3-6m (if that was at 6c then only 5-10% dilution - if at 3c then 10-20% dilution both of which would be welcomed if the investors were of high calibre). This could bring the 9c options into play in 2016 which would flood the company with cash. Like I said - this is the BEST case but valuation wise is entirely within the capacity of the ASX investor universe and MCAP tolerances of other promising biotechs.

In 2 years time the question is could PYC look like this?

1b shares + 100m shares @ 6c in 2015 + 164m options @ 9c raising 15m in 2016
thats a SP of 10c or above and total shares on issue of 1.264b with a MCAP of $126m and cash in the bank of at least $15m to complete their work. I think it can if things go right - there are plenty of biotechs that are/have been valued recently above $200m MCAP with less concentrated ownership. The Hockings own about half the options so I am confident they can exercise them if given reason (they did a large underwrite so I assume they have the financial capacity).

we all know the alternative is much more dilution and languishing at low levels but it's worth having a little dream about what could be - it's not like the PYC threads are full of glass full/full types!!

if they can get that little tractor going dragging drug molecules through cell membranes and increasing drug efficacy by 25x I am pretty sure this stock will be the hottest thread on HC a for a long time.

Anyway - about time we talked a little about the potential future and not the past.