All this "slow uptake" talk is fine but the problem here is that...

All this "slow uptake" talk is fine but the problem here is that the Co. doesn't have the money to do what it has said it would do FOR THE LAST 3 YEARS. And nothing will change that.

Whether Fonda eventually brings in $1m/yr (in which case we're stuffed) or $30m/yr unless/until the funding issue is resolved then NOTHING else happens. NOTHING. Fonda is now largely irrelevant unfortunately.

Problem is that to navigate the waters to the other side (our precious Ph III's that should have started 2 years ago) we need to pass the crocs... and the crocs want more than ONE pound of flesh. Expect a hiding in the forthcoming capital program, hard to see how it could possibly be positive until the money is in. (When has a large investor ever let an opp to get set in a big way at a HUGE discount get away?) And thats why its taking so long you'd think.

BTW imo there's no way that small shareholders will be anything but disadvantaged now, so can we expect a SPP of $5k to keep the natives happy? But only after the big boys have dressed themselves in tens of millions of 20 or 25c shares? Would it even be possible to get a rights issue away now without the underwriting issues attached? Perhaps not without halving the SP?

And why are we going thru this? IMO because management decided to risk all on this play rather than take the lower risk option and gather at least some cash, when they could, when if things turned to sh*te, as they have, with the whole world knowing they needed cash they were always going to be royally screwed. In fact if you were a cynic you'd think this had almost been planned by those who stand to gain.

BTW this is exactly what David Blake/Bioshares warned was the big down side risk 12+ months ago when they compared ACL to a couple of other biotehs that just went ahead and raised high single digit $M's at reltively high prices. But we were too special to manage the risks?

Needless to say if the raising is done at 20c and the PhIII's take 2 years we could be down here for a bloody long time. And heads should definitly roll then.

I hope I'm totally off beam here but every time I look at a daily chart of ACL all I see is missed opportunity and a a potentially great co. reduced to apparent "helplessness".

My opinion only