notice received, page-70

Hi Andrew,

Many - including you - continue to confuse SBL and SBN.

Note 9 refers to SBL - which is, as note 9 points out, totally dependant on SBN for funding but there is no contractural obligation on SBN's part to do so.

SBN is developing the SiYi JV as well as maintaining the US operations. The former is where the immediate future of SBN lies.

Market conditions (and product delays - Bioscreens and O8)are holding back the US operations - and SBN is now dealing with that. They have cut staff numbers, have signalled their intention to focus on high return prospects like O8 and are seeking a partner for the US operations (as they have in China). If none of that works out, they may close the US operations and transfer all the IP and R&D functions to China

SBN is running out of money - but it has cut back the US operations to save funds. It should have plenty to finalise the China JV - and then we'll see what happens with that.

Note 9 has nothing to do with what has been SBN's main prospect for quite some time - the SiYi JV.