An extremely long winded & painful process to transfer the...

An extremely long winded & painful process to transfer the shares for trading on the NASDAQ.

So when you finally are able to trade you will find your shares are at rock bottom levels. If you sell you will realise a big loss for the privilege of sorting through all the paperwork & hoops.

And you will have to pay more for any trades you make (at least $65) and then you have to transfer money between USD & AUD. All this process because management decided not to dual list and killed BTA on the ASX.

I think the decision to not dual list has been the biggest destroyer of value. Biota management saved approximately $10 million in fees & administration, and the market cap has fallen by more than $100 million dollars.

From when the merger was originally announced to the market in April to the day of the vote the share price had fallen 30%. From the day of the vote in October, the shares have fallen a further 30%.

It is a clear indication that the board and management have mismanaged this whole move to the US. In fact, the Fox, Cook & Lismore team have mismanaged just about everything in the last three years & Biota' shareprice has fallen from $3.47 in 2009 to a measly $0.47 in 2012.