funding plan, page-36

Pat I have the same views as this poster. I have included the rest of the post
Ventracor-Please don't issue new shares
Email sent to Ventracor:

I am a long time supporter of your company and I still believe it will be a big player in the medical implant business in the future. I have attended the last six AGM's and have over 340,000 shares in VCR. However, I am not happy with the way the company has been running over the last few years.

Your company is perceived as a professional R+D company with no target date for becoming cash-flow positive. It is nearly two years since you gained the EU approvals, and for nearly two years EVERY implant around the world has been paid for, including the trial implants in the US. I find it very difficult to believe that you could not be able to support your operations by now.

For several years I have listened to John Massey say that Ventracor has no control over the price of the VCR shares. I disagree. The market has been offloading VCR long before the current world stock market crash, because Ventracor has not placed effough emphasis on reaching profitability. An approximate target date for profitability should have been advised to the market long ago, and more effort should have been made to reach it sooner.

I do not believe you have been working in the interests of the share holders, because reaching profitability sooner would have bolstered the share price and would most probably have kept it at a reasonable value to make the issuing of new shares a viable exercise. I think it is unconscionable that you would consider issuing new shares at the ridiculous price of EIGHT CENTS! This is a massive slap in the face for those of us that have stuck with you. The value of my shares will be greatly diluted by this share issue.