meeting report

Hi all

My apologies for the delay but as I am not home my time is not always my own

Can I begin by saying that JT, Kipax, Z and others if you had been able to attend the meeting you would be sleeping a good deal easier tonite

The meeting had no hype - the motions where passed and the meeting closed after which Steve gave probably one of the best presentations I have heard in a long while - I can see why his 30 minute broker presentations had to be broken off after 90 minutes so he could make the next meeting

So what did I learn

Well two things stood out to me

1) That there is a real possibility that we will see revenue from the Novadel suite of products before any trade sale of Artimist

2) Just how big the potential of Novadel is

Novadel was a company that started life by raising 100 million dollars and the fact that most of the drugs they have patented with their delivery method do not yet have a spray delivery capability puts us in the driver’s seat

We have the "Stiffy" drug about ready to go and this one highlights one of our avenues to revenue – where drugs such as Viagra are coming out of patent we can offer a new variant with our spray delivery system which can prolong the patent for some of these companies - this is worth big money - the USA though is out for this one as Viagra is patented there till 2017

Steve's presentation showed just how well the board understands the potential of the company - moving forward we will be using a variety of licensing, JV's and grants to move things to the desired end game

MAKE NO MISTAKE - SUDA IS BECOMING A VERY DIFFERENT BEAST

Whilst most of us here on HC are concentrating on time lines the company is moving things forward in a number of different directions - Novadel have over 90 Patents in place

The Final report is due within two weeks as it has been held up by one of the field Doctors being on holidays - he has to check the draft report and sign off on it - Steve is not concerned and expects that it will be released this month and he does not expect it to be much if any different from the draft report

He stated he has 90 – that’s right ninety boxes of data coming over to be sorted - this points to the fact that many of the drugs being captured by the Novadel delivery system already has quality data collected

He believes the Novadel products can be taken from start to finish in between 3 to 5 years as opposed to a new drug that takes on average 13 years

He also gave the distinct impression that we will be the major player in this segment of the market (sprays under the tongue or in the mouth)

Of particular note is the fact that the absorbtion rate under the tongue is 95% as opposed to a tablet that is 10% so we are playing in a space that has the ability to deliver very powerful treatments

Over all I got a very different feeling from this meeting to others - why - because we talked about a future after Artimist - a future which in reality will make many think that Artimist was not the Silver Bullet we needed but just another of the many products in our range (Novadel is that good)

Again this meeting was not about hype but about simply getting the job done

Mention was made of having to move offices to allow for future growth -

JT I think you mentioned the presentation was more of the same - what you could not see was the information that was delivered to the meeting that filled in the gaps between bullet points - information that gave a value - that made you sit back and begin to calculate the potential that Suda has the opportunity to unlock

Guys in the end I think the board has a very good handle on what is happening

The question was raised by a very astute person (HC Poster) as to why there is a disconnect between what we had seen and heard at the meeting and the market - instead of getting the usual "Oh that’s the market - we can't control that" Steve was very direct with his answer - the market does not know what we do – it has been difficult to tell the market what we do over the past three years - but now we have a story to tell and we will be telling everyone we can from here on - or words to that effect

Guys my email is [email protected] if anyone has any specific questions about the meeting

Clyde