When I was in contact with TK, he seemed to put forward that the...

When I was in contact with TK, he seemed to put forward that the data confirmation results were what 'evened' it out (my terminology, not his).

But he was saying since the initial IER we then had news of the 'negative' data confirmation results and then the news of sleepcheck FDA, Medgate and patents.

The IER also has an easy out by providing the range of value as opposed to being locked into a single figure.

Don't get me wrong, I think it's all quite ridiculous, but I've seen enough IER's to know they will be as vague as possible to give themselves leeway. If they narrow down a figure too much or express too strong of an opinion, they open themselves up to more scrutiny.