not happy, page-27

Thanks for that update NC and to Rusty, Barewire etc.

I rang the company this morning and got the same response - that its the ethics committee review and IND that matters. I argued that even if its not market sensitive this would have been a great opportunity to promote the company to new investors via the ASX but again I got stonewalled.

I missed making the point you did though Ninja Chook about last years announcement - well done - that really puts the company in a bind because the ASX clearly thinks last years data was market sensitive so I can't really see how they can say the Cantrixil toxicity data isn't.

I can't believe how arrogant the board and management are and in my view they are sailing very close to the wind here with their view on the toxicity data. These guys clearly don't have the shareholders interests in mind. I'd like to think there was some great plan behind all of this but it seems unlikely - I think they are trying to keep a low profile until the cash runs out and then give it away - to whom I'm not sure but it would be good to know if there are any conflicts of interest floating around.

The next step in my view is to contact the ASX and ASIC and see if we can get anywhere there.

To me its becoming evident that GK's approach was anathema to the board - can't say for sure that's why he left but you've got to wonder - they sailed close to the wind on that one too by getting a CA done up - I've always thought that was in breach of the continuous disclosure obligations.

It also makes you wonder where that 50 million odd votes in the EGM came from supporting the board and Ross - I doubt it came from any hotcopperites - you've got to wonder you would endorse this lot and if they're part of the grand plan of bleeding the company dry before taking it over for a song. I can't prove any of this of course - its just my opinion but in light of the circumstances over the last 9 months you've really got to wonder who is pulling the strings.

GLTA/IMHO