Ann: Results of Meeting , page-12

I have no doubt that CZD will pitch a merger to the new board. I also have no doubt that CZD needs money to progress both AOD6604 and its PolyNovo projects.

But you have it wrong with CZD acquiring a license from POH for TPM; its the other way around. POH will license AOD9604 from CZD and use its TPM technology to create the "cellucreme" product, if it ever gets the go-ahead.

Assuming that current tests have positive results, then the next logical progression is to use TPM technology to deliver AOD9604 systemically via a patch. That will require the full gamut of FDA Phase II and III human trials, an expensive proposition, and one that POH will not want to finance on its own. This is the money burn I see CZD looking at, and searching out a solution for.