I would like to share with you why for the first time in my life...

I would like to share with you why for the first time in my life I have continued to ignore my portfolio diversification rules with this stock and why it also now remains the only stock in my portfolio which I continue to ask myself on a daily basis: Why stop accumulating?

OBJ is the first company in the world to develop low cost micro-array film technology that utilizes diamagnetic repulsion, induced permeation and energy redirection to offer a new way of managing the speed, depth of penetration and delivery of active ingredients in a wide range of commercially significant drugs and peptides used in the pharmaceutical, dermatology, cosmetic and consumer healthcare sectors.

The companys commercial strategy remains to leverage product development and licensing opportunities with major international partners and through relationships with contract manufacturers throughout Europe, USA and Asia.

2010 was a significant year of progression for obj and a quick trip down memory lane certainly substantiates imo some very promising developments and a clear sign of rewarding times ahead.

February 8 - STATEMENT OF INTENT FROM MAJOR INTERNATIONAL FMCG COMPANY
OBJ is continuing to work with a major healthcare company to develop a product to enhance the delivery of one of their key therapeutic agents.
The Company is pleased with the rapid progression of this program and will continue to keep shareholders updated.

February 18 - GSK ENTERS INTO FURTHER AGREEMENT WITH OBJ
OBJ and GSK have worked together on three previous occasions and the current Agreement is a continuation of that relationship.

March 16, 2010 - Dr Kevin Hammond is Appointed
Dr Hammond is focusing on existing partnering programs where his proximity and access to both US and European markets enhances OBJ's capacity to manage its growing number of relationships

April 6, 2010 - 3M MTA
Following the completion of a successful initial phase, OBJ and 3M then agreed to extend the testing and to work closely with OBJ's partners.
OBJ announced that 3M had confirmed its interest in working with OBJs current clients in patch development and/or contract manufacturing following testing performed by 3M.
Glyn commented, "With the number of partners that OBJ is working with worldwide, it is important that OBJ has the ability to provide professional development and manufacturing facilities to the highest possible standard.

May 13, 2010 - FIM TECHNOLOGY PLATFORM EXPANDS MARKET REACH
The FIM technology is the subject of a recent international patent filing and forms the basis of an expanding portfolio of field-of-use patent applications.
It has been developed in response to increasing interest by the non-pharmaceutical divisions of OBJ partner companies in the potential of physical enhancement rather than reliance on chemical enhancement.
Initial targets for the FIM technology include:

*Tooth Brushes - for enhanced tooth whitening, demineralisation and desensitisation
*Hair Brushes - for enhanced hair dye penetration, straightening and conditioning
*Skin Applicators and Wipes - for anti-ageing, moisturising and depilatory applications
*Surface cleaners - for increased penetration of disinfectants, anti-microbials and cleaners

August 2010 - SHAREHOLDER UPDATE
OBJ announces that commercial confidentiality provisions of all existing arrangements prohibits the release of details however the company reported that partnering programs are progressing across the following market sectors:
PHARMACEUTICAL
OBJ is working with one of the worlds largest pharmaceutical companies in consumer acceptance testing for a patch version of an existing multi-billion dollar product currently sold internationally and other programs continue with a number of major pharmaceutical companies across this market sector.
COSMETIC
OBJ is currently working closely with two of the world's foremost cosmetic brands for the design and development of new products involving OBJ's eM patch and FIM technologies.
CONSUMER HEALTHCARE
OBJ is active in this sector and has a number of international collaboration program discussions underway utilising OBJ's ETP and FIM technologies. OBJ is in discussion with five of the world's largest companies
across a variety of applications in consumer healthcare.
INDUSTRIAL
Discussions are currently underway with leading international groups to further explore suitable applications in this sector.
NEW RESEARCH MANAGER EXPANDS TECHNCIAL TEAM
OBJ announced the appointment of Dr. Matthew McIldowie as Research Manager who now leads the Company's product research programs in both the biological and non-biological areas. He continues to build research teams to work alongside partnering companies.

September 28 - STRATEGIC ALLIANCE WITH GLOBAL FMCG COMPANY
OBJ announced that they had executed a Letter of Intent to establish a Strategic Alliance program with one of the world's leading Consumer Products companies for the evaluation of OBJ technologies across multiple product categories.
The Letter of Intent for the Strategic Alliance sets out a program of technical evaluations that, if successful, should lead to an initial 5 year Strategic Alliance for the design and development of a wide range of consumer products incorporating OBJ's micro array and FIM drug delivery technologies.
If agreed developmental objectives and criteria are met, and the FMCG company commercializes products within the field, OBJ will grant a license for each product within the field and receive royalties for a period of 5 years or life of patent, whichever is longer.
This Alliance progresses the Company's technologies into more focused product development programs. Furthermore, the proposed Strategic Alliance validates the Company's decision to engage with major international partners outside the traditional pharmaceutical field and to explore enhanced performance of consumer products as well as prescriptions and non-prescription medical applications.
This Strategic Alliance is a new relationship for the Company and is in addition to the programs and collaborations in the Fast Moving Consumer Goods (FMCG) sector previously announced

September 30 - 2010 ANNUAL REPORT
We are encouraged by the strong interest from our targeted partners across all market sectors as the Company moves steadily forward to realizing its potential for product development.
All these programs were significantly expanded during the periods resulting in more partner collaborations, a broader technology base and expanding marketing and research teams.
During the period, results of in vivo skin hydration and tooth whitening research were released with both programs resulting in ongoing discussions with major international brand leaders.
3M remains a major collaborator with OBJ, and in additon to offering key fabrication expertise they remain alongside OBJ in exploring potential large opportunities for magnetic array applications.
The potential Personal Care applications for magnet arrays has received substantial interest from several FMCG and cosmetic companies, particularly due to the potential to deliver existing cosmetic active ingredients more effectively. Applications in Skin Care have prompted much attention, but interest has now extended to Hair Care, Deodorants, Delipatories , Cosmetic Oral Care, and even Colour Cosmetics.
Intellectual Property
OBJ has expanded its Intellectual Property and Patent portfolios with the lodgement of seven new Field of Use patent applications covering the commercial areas of interest to OBJs partner companies and the progression of its foundation patents through to examination in both the USA and Europe. These IP programs are designed to provide broad exclusivity across key markets and to allow efficient and effective licensing key market sectors.

October 25 - GSK TO PROGRESS FIM TECHNOLOGY
OBJ announced that GSK informed the Company of its desire to proceed with an FIM development program in a major consumer healthcare sector following a sequence of successful technology evaluations. The target application for the FIM development is a key sector in consumer healthcare.
GSK reported statistically significant levels of enhancement in an in vitro testing model by the OBJ technology in a global Consumer Healthcare application. GSK and OBJ are now in discussions regarding the next steps of this program which will include a technology integration program and in vivo human efficacy testing to quantify the business opportunity"

It is important to note that the majority of sales in this graph represent products utilizing first generation patch technologies. INNOVATIVE TECHNOLOGIES THAT ARE ABLE TO DELIVER DRUGS WITH A BROADER SPECTRUM OF CHARACTERISTICS ARE POISED TO REVOLUTIONIZE THE TRANSDERMAL DRUG DELIVERY MARKET AND DRIVE SIGNIFICANT GROWTH.

Which brings me to the conclusion of this post and still leaves us pondering a valid question:

*Why have the commercial confidentiality provisions with all of our existing partnership arrangements prohibited the release of details and why have we been waiting so long for our first imminent announcement of material value?

Imho the answer to this question may be found when piecing together some of the ambiguous announcements to date. More to the point I believe FOU licences are quite neccessary when more than one company is required to fully develop the technologies potential ie. OBJ - technology licensor, 3M - Patch development/Manufacturer & technology licensee, GSK/FMCG1/FMCG2/or other Application provider & technology licensee ~ food for thought - reason for delay?

1. OBJ is in discussion with five of the world's largest Consumer Healthcare companies across a variety of applications

2. OBJ is currently working closely with two of the world's foremost cosmetic brands

3. Major International FMCG Company is continuing to work with OBJ to develop a product to enhance the delivery of one of their key therapeutic agents

4. OBJ is working with one of the worlds largest pharmaceutical companies in consumer acceptance testing for a patch version of an existing multi-billion dollar product currently sold internationally

5. FMCG initial 5 year Strategic Alliance for the design and development of a wide range of consumer products

6. GSK has reported statistically significant levels of enhancement in testing

7. 3M has confirmed they remain a major collaborator with OBJ

8. OBJ has expanded its IP and Patent portfolios with 7 new FOU patent applications covering the commercial areas of interest to OBJs partner companies

* When is Field-Of-Use licensing worth the extra effort?

1. When more than one company is needed to fully develop a technologies potential.
2. When different licensees are needed to address different markets.
3. When field-of-use licensing has the potential to significantly increase the financial return from a technology.

In all of these situations, field-of-use licensing can produce better results for everyone involved.

As noted in Anns received relating to our partnerships we always find the words: 3M, GSK or one of the FMCG, "has permitted the release of the following information", which would imo not only confirm that these strict confidentiality arrangements have been at the request of our partners, not OBJ, but it also might suggest the technology evaluations with our current partner applications are of quite significant value?

* Why is the current sp only 2.2c after OBJs in its most promising position since initial inception?

Imo maybe combination of three possible scenarios:

1. Lack of market awareness
2. Evident sp control & capping for accumulation creates concern for the unaware*
3. Long lead times and high regulatory barriers for Pharmacuetical licensing require too much patience

*I note with interest over the last 12 months after being presented with such an exciting stream of news, which imho has now completely de risked this stock and provides further indication of our sp being undervalued.

December 31, 2009 - 2.9c
December 31, 2010 - 2.3c = - 26%

10 weeks has passed since receiving any update.

All quiet before the storm?...

Just sharing some thoughts. Have yourself a safe weekend