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Hi Gary

There is no bright side to NTCell. The announcement said it all "There is not a statistically significant difference between the groups who received NTCELL and the patients who had sham surgery". Further work on NTCell will involve monitoring patients and data analysis. As Dr Barry Snow indicated in the conference call, any future changes to patient outcomes will be difficult to include in submissions for regulatory approval, as they are now unblinded.

From the conference call we gathered LCT have $5m in the bank and will be looking at different projects. It is probably safe to say to that LCT has to drop NTCell as a viable future revenue generator - it cannot afford to expend additional funds on this.