Quarterly, page-146

Unfortunately AHZ is now valued according its net profit, the market ignores the IP, the ongoing developments, the production facility and so on and not to forget, ignores the cash at hand.

MC less cash at about 100 - 110m. Difficult to find numbers to work out the value of holding 2/3 in Admedus Vaccine but someone recently wrote about 60m as 1% is about 1m. If so, AHZ is just worth 50m.

According to PE-ratio valuation AHZ should be worth 0.1c as there is no overall profit but that way none of the ASX speccies should ever have gone up past 0.1c. Seems the market must be convinced by real profit numbers and that may still take a while. Yes, we see every day others stock fly just on unjustified expectations and AHZ going down.

Just two options left:

1. Selling out and instantly causing a sp reversal up to 20c due to a sudden interest on a flood of great news - good for the others but not helping me

or

2. Continuing buying small parcels on the way down hoping for a turnaround, could work but no guarantee.

So I am hanging in here, watching the sp going down to my worst predicted level : 5c.

The Aussie share market is a very brutal place, showing no mercy to the faithful and patient ones.

I hope that in 10 years time I can sit back and laugh about my todays post and won't kick myself for not having sold out.