Ann: Results of Meeting, page-10

I did attend the meeting. Apart from Vince there were Michael Thurn, Bill Bosch, Stewart Washer and Rob Towner present. Apart from one answer all the talking was done by Vince and Michael. There were 50+ people who attended.

In relation to Matt Callahan Vince was non committal as to when he would return.

There will be cap raise. Vince was open about this but said the timing and details had not been decided.

The posted meeting presentation basically details what was said at the meeting in relation to what to expect from the company in the near term. Vince is a good salesman and has a wealth of experience, prior knowledge and the ability to say a lot without actually saying anything that shouldn't be said.Hence he is the boss man.
I was impressed with Michael Thurn who to me certainly knew his stuff and generated a feeling of confidence in the Rosacea and anti microbial research. He repeated several times the safety shown by their trials will ensure FDA approval.

In answer to a question relating to psoriasis Vince answered while the company has the results it will proceed with other areas of research at this stage.

Vince did acknowledge the need for the company to make an effort to write reports in easier to understand language.


Kawartha gave a good account of his views of the meeting on another thread. I basically agree with him.I do feel juztech may be somewhat harsh in saying most of the audience clammed up when it came to question time. From my point of view it was obvious that the company has a viewpoint and that will be it. So rather than be focused on some witch hunt it seems the best step is to ensure the mistakes are not repeated and move forward. I couldn't help but feel the company knew more than they were letting on.

Vince did say the company was not single minded or focused on one course of action. There is a wealth of talent in the company that will allow it to research, develop, joint venture, or commercialize products themselves. The options are many and varied.

After the meeting I did manage to speak with Vince. I have no doubt he fully expected the US results should have been the same as the Aussie ones and the company was shocked at what actually happened. One of the things I asked was if the deal with Purisys eliminated the problems of multiple suppliers and associated problems why not repeat the US phase 2 trials even if on a reduced scale as this would re-instore faith in the company which would be reflected in the share price. He answered that this had been considered but they were moving on.

We then briefly spoke of the antimicrobial results.

It was a long day but I am certainly glad I attended as it was most informative both to listen to and also to see some of the faces who attended. My feelings of doom and gloom stemming from the phase 2 reports have abated. It may take a little longer than expected but I am sure success will be achieved.

I hope I have been of some help to you Rusty.