Following up on frustrations expressed under thread 'is anyone...

Following up on frustrations expressed under thread 'is anyone interested' I phoned the MD of BPH to ask questions regarding:
1) Why is there a spin-off?
2) Apart from the gift to BPH holders will there be a an actual IPO for the public and how many shares will be offered?
3) What is the incentive for the market to believe that a company previously valued at 10c by the market, can suddenly be rerated at 20c (for Cortical) plus whatever the new price will be for BPH?

The information gleaned was:
It is perceived that a separate coy with a single focus/product provides a better vehicle to attract government grants. A $2m Commercial Ready grant is being targetted.
This company group has already had what they consider as two successful spin-offs/cap[ital raisings. David Breeze has been involved in 80 or so IPOs, suggesting they know whatthey are doing. ( Being succesful at raising funds/seling IPOs though may not necessarly be of benefit to old or new holders...just good for the Coy)
An IPO will be offered to the public. How many shares is not known (actually not disclosable) but has to raise at least $2m to comply with ASIC/ASX. ( IF they can raise this amount or more AND get the $2m grant that would be healthy to develop/market Cortical and provide value for existing holders I would guess)
They believe Cortical has some huge competitive advantages (measuring sensory brain inputs and assessing drug inputs) in the world market but this has not yet been understood or properly valued by the market.
I suggested that BPH should consider releasing such info above to the market, especially to help existing holders.
I was told more information was planned for release. One ann this Friday and another next week. Naturally the MD was guarded on the detail.
My reading 'between the lines' is that Friday's Ann will be about some compliance issues that need to be sorted out, which will see a REVISION OF THE SSPP CLOSING DATE.
Next weeks ann hopefully will provide more detail about the the aspirations of Cortical, which could allow existing holders a better perspective on whether to participate in the SSPP
ooroo