The opening statements in the report to gloss over the $20m GSK...

The opening statements in the report to gloss over the $20m GSK settlement and mentioning only $7.5m legal fees burnt in the 1Q and the failure to disclose approximately $30m of previous legal fees set the tone and illusionary independence of the report.

The distortions of the cash balance to $70m compared to the $55m cash balance reported by Peter Cook underline the depths the researcher is prepare to sink in order to spruik Biota. QUOTE from the report: “At the end of the first quarter of this financial year, the company had an estimated $70m in cash assets following the final litigation receipts and expenses” Compared this to Peter Cook’s own statement QUOTING Page 18 Line 1 of the AGM document: At the end of September our cash stood at $55 million.” End of Quote

Not withstanding Biota’s disclaimer on these reports, it reflects the morals of the Biota Board to promote these reports containing fundamental facts that contrasted with the true situations contained in Biota’s own document.

A credible board and capable management do not require trickery and mirages to promote the company. The fact that Biota resorted to spruik itself using such reports speaks volumes on the desperations and corruption at the very top echelons of this company.