Chart, page-2297

RYNZN, another possibility for the report is to potentially assist in providing any takeover defence. By this i mean there maybe lowball offers made, which can easily be "batted" away by pointing to external analyst valuations. As a rule of thumb, a premium of 30% to 50% should be added to the higher of a 7 day/28 day VWAP price or "independent valuation averages". This report would be classified as an independent valuation. The above premium ranges are generally for businesses who produce EBITDA and are well established. I'm not an expert on premiums for Biotechs in Phase 2 or Phase 3, but I am reliably informed, depending upon prior results, safety etc, that they are much higher. In the hundreds of percent. Anyway, even if this wasn't a reason for the commissioning of the report, it may prove to be a valuable tool in the short term future.....