burnt, page-9

Yes. The salaries is the big issue. Not unique to PNO but a concern none the less. If we continue along this course then a slow death is likely imo.

I'd much prefer a serious push was made. Spend what we have and see what happens. Or better still, find a large cornerstone investor. The dilution would be insignificant in comparison to the potential growth.

I don't think they can approach holders again. Not this soon. So it really is about getting a license deal or cornerstone investor. Even the odd 100mil share placement to sophs wont cut it this time. That just buys time.

MLPH really needs a cash injection and let the market determine what PNO is worth when big dollars are getting invested into Tripeptofen.