Hi Newland,I am not sure we have that many options open to...

Hi Newland,

I am not sure we have that many options open to us.

Personally, with the size of our pipeline, I think I prefer the La Jolla funding. Cant believe I actually typed those words!!!

If we did a cap raise and raised say $1.5m today at a discount to market, all issued today, and much of that stock will be sold back on market the next day taking out all of .1c depth.

With La Jolla, they may issue us $100K each month, while in 12 months we may be looking at a very different business....and the SP might see some action, so La Jolla may find themselves selling at prices above.

Regarding consolidation, I have not spoken with Evans about this in any details since. He knows my position on this...consolidations dont work when a SP thats falling.

Kiril.

I hold.