shareholder update, page-3

"Cash positive"

Not quite PoS - well not yet anyway.

"We are maintaining our financial guidance for FY2012 of 100% growth in commercial revenue versus FY2011 and a modest increase in operating costs."

Doesn't mean cash positivealthough it's easy to see like that - 100% growth in commercial revenue doesn't neccassarily mean profitability if expenses are still increasing - I'd say 100% growth would still leave it under expenditure without increases. In other words still remains the same unless they can trigger a significant payment early this year I'd say the likelihood of them coming back shaking the tin is still pretty high.

Only time will tell - although i do think if they didn't have a hunch about a significant milestone or payment being triggered in the near future then they would of moved for more than $2M in Decembers placement.