letter to the chairman - dr.james fox

As I am unhappy with the clarity of GSK Option situation I have sent the following letter to the Chairman of BTA.
Note I didnt send it to Peter Cook

"Dated 26th March 2009-03-26

Dear Mr. Fox.

My name is XXXXX XXXXXXX and I operate the self-managed XXXXXXX Superannuation Fund, which has quite a sizeable investment in Biota.

Over a long period I have read that Glaxo Smith-Kleine (GSK) who is licensed to market, manufacture and distribute Relenza has undertaken in writing “Options on Relenza”.

I have a number of questions relating to this practice.

1. Does Biota receive a percentage of this option premium? If Yes. what is it? If No. then why not?
2. What is the maximum duration of the Options written by GSK? I.e. what is the longest date contract?
3. What is the total value in Australian Dollars of outstanding Option Contracts written and outstanding as of now?
4. Are all Options Granted by GSK to the buyer on the basis that the buyer has total option whether to take delivery by due date at contract price or walk away and do nothing?
5. If option to exercise has been undertaken by the buyer what is the average weighted period for the delivery of Relenza to the buyer. E.g. 30 days?
6. I have a concern that a situation could arise near the end of the licensing agreement with GSK whereby they may grant options and the customer wishes to take-up delivery after the end the licensing agreement date. Would BTA still receive royalties?

I also have another question of GSK guaranteeing supply to various customers.
My understanding in the way of Corporate Practice is that no Company will not guarantee supply unless they have received full compensation for the product, as they will have to warehouse and insure the product for future delivery. In these types of events,
1. Does BTA receive royalties at the time of Contractual agreement between GSK and the Buyer or is it deferred until the delivery of the product. If it is the latter they why?

I look forward to your reply.
Name
My address"