Eddie 30 I agree with your thoughts.While there is much promise...

Eddie 30 I agree with your thoughts.

While there is much promise re: future deals which are clearly the focus of the company, anyone in the funds industry knows that the management/director's word and past performance in keeping to that word counts for everything. It is the sole distinguishing factor between a good company and most other companies on the exchange. You break that word and you lose the trust of the fund/investor.

Whilst it may seem like an insignificant promise, and acknowledging that there is still plenty of time left in 2014, the forecast was that the Co would be cashflow positive on the back of the Ebio/Affymetrix deal alone. on the basis of the last quarterly figures that is not looking to be the case at this stage.

Whilst the reason for raising capital was said to be acceleration of new applications, you have to be sceptical that some of that money raised was a buffer against the existing deal not materialising as planned. In that respect the CR was a prudent move.