Ann: Update on corporate transaction discussions, page-2

Well ... now there's a WTF moment. I hope those (sophisticated investors) who put money in last week won't be too upset.

So the company has withdrawn from its discussions with Freestyle. Just a guess, but probably because the Freestyle ask was too high. I don't think the deal would've worked for major shareholders with a high price. But I wonder why the deal wasn't fully shaped before the raise??? Seems odd and a very disappointing approach by the Board.

Anyway, we're now on course for "other commercial andpotential corporate opportunities". Intriguing... But then again, we've heard about so-called 'opportunities' since last year. It's starting to wear thin so the Board better deliver some material news quickly.

Given funds from the raise plus the looming Penta reconciliation, we should have enough cash (~$1m) to keep going for some time given Directors have told us we're close to break-even.

Yak.