calm before the ???, page-8

Hey PHE, as a long term holder myself I like the sound of your numbers, are these drawn from discussions with the company? Or are they your assumptions based on previous deals? In regards to the cap raising I have heard a very similar story from someone in the company, that a fair portion will potentially be used for acquisitions rather than day to day running costs. The only concern I have is once the phase III results come out how long will it take for the FDA to respond? are we talking the usual 6 month window? Or would you expect a company to act simply on the strength of the results prior to a ruling from the FDA?

Good luck all.

Joe