Ann: Receipt of unsolicited intention to make a takeover offer, page-29

The only reason there has been no refusal is because LIT hasn't made any offer to LPD management for them to refuse. They're going directly after us shareholders without LPD management's consent. Holders will get a letter in the mail. No doubt their intention is to get 50.1% control of Lepidico and give our management the boot, take the L-max patent and run because their court case isn't going as they need it to. It's a good indication of the quality of the asset we're sitting on and how much it's needed by LIT. But LIT should have been able to think of 100 better ways to go about getting access, like for one, how about just being a decent camper and pay the royalties as per the license agreement.