COLINK60, you are correct that I overlooked one of the 9...

COLINK60, you are correct that I overlooked one of the 9 directors on the old Board, Dr Michael Monsour, who I believe was the only previous director in the company's history to have bought a significant share holding out of his own pocket. In fact, I understand he was the equal largest shareholder in the company. Quite an oversight on my part!

Nevertheless, the old Board had one director out of 9 with a particularly large shareholding paid for by himself, whereas the new Board has three directors out of 5 with significant shareholdings paid for by themselves.

The three foundation directors of CBio, Stephen Jones, Wolf Hanisch and Stephen Goodall, each received 1.19 million free shares when the company was formed.

Those who paid $5 a share must have bought on the secondary market, as the highest price at which CBio raised capital was $3 - although the company under Stephen Jones did do a placement at $6 in 2006 (which was later adjusted to $3) and attempted a rights issue at $8 in 2007 (which was cancelled with money being refunded to applicants).

The history of CBio capital raisings from inception almost 11 years ago has therefore been at 50c, $1, $2, $3, $1, 50c, $1, 16c, 44c and 18c a share.