I am a BUY & HOLD, page-144

Bucky the valuations you refer to which appeared in a chart 3 fricken years ago where deals done on a Global Scale - Suda have told us since then it is there intention in the main to do smaller territorial deals which they have done, hence the lower upfronts and milestones - but the royalties are pretty impressive on just these two deals alone.

I have spoken to Steve Carter briefly and he has told me that the finance situation is being dealt with and he does not expect any issues in that regard.

News flow will begin shortly although that will not centre on deals specifically.

He told me that shareholders will be surprised at the number and breath of deals he believes will be completed this year.

In the end it comes down to "do you believe in management getting these deals over the line" or as in Bucky's case "you don't believe"

I am confident we will see this year as the Company defining year - I am confident we will see deals announced - and yes they will be regional most likely and so wont meet the charts of three years ago. I am confident that our share price, which has simply drifted lower on very small volumes will recover quickly once the potential of these deals can be placed on a spreadsheet.

I am confident that once we get to the stage where the initial royalties of the first two deals are being delivered and as such our cash flow protected, interest in Suda will heighten, because this company will have a measured value that will underpin the markets valuation of Suda.

Pretty simple boys and girls - you are either a believer or not - and that is your call and I won't criticise you if you are not a believer as you should not me for being one. I will though promise not to post I am a believer over and over add nauseum.

Why do I believe - OK I will tell you my take. First I am trained in many aspects of selling, body language, conversation, questioning, voice tones and how or more importantly what is not said. In my conversations with the two key people in management I have never detected panic, desperation or doubt that they would complete the building of this Company, only frustration at the markets re-action and therefore share price and the fact that the type of deals they are engaged in don't allow for a running commentary on the deal process. They have also admitted to me the process has taken longer than they had expected for a large variety of reasons which has added to their frustrations, delays have occured because of holes in the data they purchased from Novadel, companies simply promoting the person with whom they had been negotiating only to find the replacement wishing to pursue other projects as just two examples.

I did ask a simple question - Does our new platform work? - Steve's reply was "absolutely, in the Lab we are achieving up to 40 times faster absorption" - even 10 times would be a game changer!

Suda has been a difficult ride and after 17 years in the saddle I have a pretty sore arse - but I can smell the water from the oasis at my computer now.

I am happy to hold - not specifically on what I am being told, but more on how that message is being delivered. I understand the frustration of those on here that fall into the third camp - that is the "I want to believe, I so desperately want to believe - but I need a sign (deal) so I can"

The wait is a little more bearable if you are on my side of the fence.

Clyde