Wow,I'm surprised people came away from this presentation...

Wow,

I'm surprised people came away from this presentation feeling positive.

Here was the money quote:

"According to our calculations we will be cash flow positive or able to be cash flow positive or thereabouts by 2014."

So in the absence of deal get ready for another cap raising early next year.

I also found this statement interesting talking about personal care and the dermal cosmetics business:

Last year we made close to probably $2.1m, this year we are hoping to double or triple that.

Interesting since POH showed sales revenue of $419k last year. She needs to clarify what she is talking about. Perhaps the slide that we can't see clarifies it? It would make sense if she is talking $2.1m at the retail level. If so, you can quickly work out that the margin is less than 20%. So even if they do triple sales this year they will still be looking to raise cash within the next 12 months, (again in the absence of a deal).

Another point, I agree Esra is an impressive speaker when it comes to explaining the science in simple terms, however she is less than impressive with her clarity around financial matters (which given her background is probably to be expected).

The main positive I heard was that the acne product probably won't need a phase 3 and can go straight to market.