I think this part of the newsletter is well worth...

I think this part of the newsletter is well worth highlighting.
But I personally am getting very excited a deal will be done by then. So long as their clinic program stays on track.



"Financial Position

The changes to the R&D Tax Incentive announced in the budget will have no impact on Phosphagenics ability to claim the incentive from the federal government. This is an important source of funding for companies such as ourselves who have a fully integrated R&D capacity with a very busy clinical program planned. This means that the costs of our trials are reduced to the extent that we can claim the incentive which amounts to 45% of those costs.

Our financial position remains solid with
$17 million approximately in cash at the beginning of the year. To this we can add approximately $6.8 million for the R&D Tax incentive earned so far (receivable in two tranches, one this quarter and the other in the final quarter). Even though we plan to be in the clinic continuously with various products during 2013, we will still be in a comfortable cash position at calendar year end 2013.

New revenue streams from Themis and GNC will start to make a contribution to earnings in the second half.