Novogen Comment from Ann Rep

Looking through last years ann report I found the following comment interesting:

"We believe that the price of Novogen stock does not
recognise the underlying value of phenoxodiol within
the Company. And an independent expert valuation of
phenoxodiol clearly showed that such a disparity exists
between the price of Novogen shares (or market
capitalisation) and the current value of phenoxodiol."

Note this was before recent positive developments like the deal struck with Yale University and the completion of Stage I Clinical trials.