best case situation from here, page-51

At least there is some glimmer of hope in a strong start to the US IPO season this January and the strong price performance of 2012 IPO issuances.

http://seekingalpha.com/article/1110711-2013-u-s-ipo-calendar-builds-quickly

Perhaps we were a victim of timing as much as anything else given it seems January is historically a slow month perhaps the smart issuances decided to avoid a bad cliffhanger December.

I am hoping that Pete and the Board are discussing future funding strategies with our major shareholders given scheme documents and expert opinions can all be carried forward from the last attempt at hopefully lower cost. If they want warrants in return for their approval PS should tell them to shove it.

I am also hoping they are targeting key potential investors in the US and getting their feedback on pricing the issuance. Perhaps a couple of calls while a CEO is on leave is not too much to ask.

Going back with a more discounted issue, although resulting in more dilution to existing holders, may attract those looking for a stag profit.

Looking at the current SP you would think a successful IPO outcome will create significant value more so than added dilution from a more realistic pricing of the offering.

Its time for action.