estimates and market values, page-7

Thanks Lozza. Current price $2.77-$2.80

Market values: post 5948, Ozestock:

Item 3.2 The Share value of only NV07a and Isoflavones is estimated at $ 9.55. This is based on a P/E of 20.

Now apply a P/E of 15 instead and give a massive discount of 50%: The Investor then ought to be paying $3.58 IMHO.

The Phenox trials have been excluded as is the cash held by Novogen (was $35 mill. on 1 Jan. 2003).

Also excluded are the very promising NV04 drug as well as others. And so are the know-how, the calibre of the Scientists, the very good connections with Research Institutes and Hospitals and the Infrastructure. All that is free!

Therefore the current price doesn't even approach a minimum of the mentioned $3.58 and this after a massive 50% discount.

We are waiting for news of the Commercialisation of drug NV07a and the Primary defensible Patent for Isoflavones.

The latter will enable Novogen to charge royalties.
Investors, please do your own research before investing.

Gerry