Hi guys, I have not posted to date on this because I have had no...

Hi guys, I have not posted to date on this because I have had no specific information. I sent an email this morning to Nathan Drona expressing a lot of the thoughts that are posted here. I also suggested that he should resign. It was a very long conversation so can't recall it all here.But here are the main points.

1. The company received the last response from pharma indicating that they did not want to proceed with a "Time Sheet" on Thursday morning. They new at that point there would be no partnering deal.They took immediate steps to reduce costs.

2. He insists that the drug testing results were excellent but could not meet the various commercial tests that the pharma's apply. (Please don't ask me to explain I found this somewhat confusing)

3. I suggested in my email that there did not seem to be a viable strategy moving forward. He while acknowledging that there will not be a partnering deal with a large pharma suggested that the board and their advisors had made considerable progress over the weekend with regional pharmas and with possible mergers. He was very upbeat and confident that some value will be added to the company over the next few weeks.

4. I suggested that the strategy outlined in the announcement for moving forward was just a "smoke screen" and that nothing would be forth coming and in a few weeks or months cash would be returned to shareholders and the company would close. He was quite positive that this would not happen and assured me that it was definitely not a smoke screen.

5. We talked about him resigning.He does not want to at this time as he believes that it is still in the best interests of the shareholders that he seeks to salvage some value over the next few weeks. I admire the fact that he is not prepared to run away from this.

My family hold nearly 4m shares and stand to lose around $500k if we sell today. After my conversation I withdrew my orders from the market. With cash backing of 2.7 c per share why would we sell for that when there is still a possible upside even though it may not be much.

I am prepared to support his continued Chairmanship in the short term.

This has been a dreadful time for all shareholders, I also have close friends that bought on my recommendation, compounding my feelings today.

I hope for everybody's sake that something can be done in the meantime I will hold.