All I have done is lay out the logical conclusion of what...

All I have done is lay out the logical conclusion of what has/hasn't happened. We are all wanting to hear that the trial has been approved and that it is underway and treating patients, but in the absence of such an announcement all any shareholder can do is use their brain to rule out certain outcomes. The fact that we are a month after submission of the ethics application and have heard nothing means the trial was not rejected. The absence of an announcement that the trial is approved means there must have been a request for some relative minor additional information or clarifications. If this is all that is holding up an announcement then you can conclude that it is just a matter of time before the trial is approved.

The question everyone should be asking (but I don't think anyone has asked) is how long does it normally take for a Phase 1 ethics application to be approved if there are only minor changes required? The answer is 2 to 8 weeks.