annual report, page-2

re: annual report email from palermo I received the following email from the above, been away, just read it now.

"Thankyou for your e-mail transmission of today. We acknowledge the contents and the questions which you have raised.

The company is due to lodge its annual report in the next 24 hours which may address a number of the issues in your memorandum. Following the lodgement of the report, if there are any outstanding matters, please do not hesitate to contact me.

Regards

JOHN PALERMO
Company Secretary
-----Original Message

I am in the process of reading the report. It appears to me they need capital soon to further TRIPEPTOFEN developments. THEY SAY THEY ARE CONSIDERING HOW TO RAISE CAPITAL. I note a bit of director buying activity recently 4-5cents. I am anticipating some good announcements in the near future to spike the price again then maybe a placement above 5 cents this time??? I can not see directors buying in now above any placement price.

I DO NOT SEE DIRECTORS WANTING TO LOSE MONEY AND PAY MORE THAN THEY HAVE TOO. They normally buy lower then a spike comes. Play it as you see it. I have enough now to be happy should we go back over 10 cents, and won't loose too much if disaster takes me a couple of cents lower.

Cheers & good luck