insight, page-7

Gus, I've been a shareholder since listing in this company. I think we may dispute the numbers a little, however, just reading PXS's announcements in late 2003 they had approximately 108mill. shares listed and capital raising at 50c. They closed on the first day around 37c (=$40mill market cap) and took nearly 5 months to hit 50c.


(NB Based on ASX announcements. I initially incorrectly used Aspect Huntley info.).

The company is only worth what the market thinks they are worth. They are a long way from getting any earnings and this is what the market cares about. They needed FDA approval. In my opinion, there is absolutely no reason to buy PXS shares at the moment and to sit and wait for a possible turnaround in months and years. There is time to get in if/when their fortunes change. Huge opportunity cost in the meantime.