let give eugene a call

He is waiting in the PRR office on:

FOR FURTHER INFORMATION:
Company Contacts:
Company Enquiries Eugene Kopp 03 9854 5700 according to the ASX announcement

Give it a ring and ask to speak to Eugene. Better still ring the number each day and see if he is in the office in Melbourne or maybe back in Sydney.

Ask him if he still feels like those bonus shares to management for the Arthron deal were justified. Ask him about the status of the Cell Therapies discussions he released last year but never updated the shareholders about. Ask him why did Biomira drop CVac if it was so promising. Ask him if CVac was so promising why is it so difficult to get funding. Ask him why the company capitalisation has declined so much under his leadership. Ask him why:

You shouldn't sell your shares and buy them back (if you are mad enough) after he does the large dilution associated with a Venture Capitalist Funding arrangement.

Remember Bluscan (That's Eugene's crowd) were also Venture Capitalists who, in exchange for funding (They contributed funds in the placement) they took out Frost's team and took over PRR. The price was around 17 cents at the time and they quickly followed up with a 12 cent placement to shareholders.

The reverse is about to happen to Eugene. No Venture Capitalist will give Eugene money without a significant stake in CVac. That means that Eugene is about to give away equity in CVac in return for money.

While he has sat on his hands the capitalisation of PRR has more than halved and so the value of CVac has halved and thus you needs to give away more to get the same funds.

Ask Eugene about why he has let this happen and then post on HC. I am sure we would all like to hear the latest round of excuses.