Agree with everything you've said NZT except the bit about them...

Agree with everything you've said NZT except the bit about them being able to prescribe MPL on the back of the ODD approval. Having the approval is a huge step and vote of confidence but it is not a final approval, we still need the Phase 2/3 success before it is a drug which doctors can give to patients.

On the subject of the independent valuation. Do you think it maybe because if a valuation comes in substantially higher than the current SP that the BoD may feel it maybe harder to raise capital at a higher SP? I think many of the current SHs have built their share holding up using the past low CRs and averaging down on the lows, so many may now have an average SP in the single digits. I personally would like to see an independent valuation but the BoD may think it is counterproductive to them raising money in the current environment. If they were to announce NOW that they were employing an independent company to do a valuation IMO we could well see a raise in the SP because IMO most shareholders that know PAA would think that it will come back much higher than the current MC. Maybe look at doing a CR then?