convertible note issue, page-4

I must confess to having been lucky to get my hands on some of the notes, although it was oversubscribed ... and I just happened to come into investment funds at the time, with a company I've been working with for over 22 years being sold.

However, as it was oversubscribed, I was only offered 20K, not the 50K which was meant to be the minimum. I suspect other smaller investors which took part might be in the same boat.

Obviously not complaining though, in retrospect it was a huge opportunity. However, at the time it was also a really big risk, the company was near the brink, had just had an unsuccessful raising (the previous rights offer) just prior to the SPP that eventually got over the line, after the offer date needed to be extended. Being prepared to sink $50K into that took a fair amount of bravery, no matter how good the company's potential.

To quote Ben Dillon, in an e-mail response from him from my recent enquiry re. the option price (originally 9.5c or the IPO strike price if an IPO on the AIM), 'PLT would not be here now without that capital injection' in regards to the fact that the noteholders 'took the risk when they did'.

As to future plans ...

I'm in for the long-haul ... I might sell 5% or 10% if/when it gets to $1 - $1.50, then continue to do so in small increments as it goes for new milestones, but ultimately I want to see how far it goes. Of course, with the field its in, the technology / competition risk is signifigant, and ultimately hopefully a cure will be found for all cancers some time not too far away (I've lost both parents to it), so the trick is to find the peak and enjoy the climb. Who knows, it might even get to be a dividend-producing stock one day, certainly if the revenue forecasts are right (they might even be modest).

In the meantime, as I've documented in many posts on HC, although I was lucky enough to contribute to the notes program, I've still been buying PLT at 60c, 50c and 40c levels (45c last week) as I believe it is still a huge opportunity at current levels, and will be fully participating in the current rights issue. I'm probably crazy for doing so, as it is a total imbalance in my share portfolio (although I do have 10 other shares, much much smaller amounts), but I ultimately believe in this company and its huge future. Let's all hope I'm right (and many other believers on this site).

Cheers.