response letter, page-32

I've started buying back in today. Haven't held this stock in years since pre EMA vote, and have patiently been waiting to buy back in ever since.

I hate ramping up stocks, and I hate disillusioned holders that do it.

However what some seem to have forgotten, and as blakkie points out is that Bronchitol has an EMA approval in Europe. Even if it does come with an 18+ label, it's still a huge milestone for an ASX biotech. Sales revenues will ramp up over the coming quarters, with Germany now being the key focus? Even if profits are small, quarter on quarter earnings increases are hugely positive.

The FDA knock back was disappointing, however it's an event that should of been some what anticipated, and doesn't justify The MC losing over 60% of it's value since. Although extra trials are a burden on cash, it's rear for an ASX biotech to actually have the cash on hand to complete the required trials, along with an increasing revenue stream at the same time...

The position right now could easily be alot worse, with limited cash and only sales from Aridol. This is probably one of the better positions the stocks been sitting in, if you take into account the size of the current MC. The fundamental value is arguably better than ever.

Shorts want this stock pulled down, and it could very well go down more. However the Squeeze will come eventually IMO