the irony of it all, page-8

100% agree with Peace!

Management has no credibility anymore with respect to guidance, and it is at the point that it is hurting the company sp now as Peace very well stated. They need to stop saying that they are discussing with "20 companies" when that is likely all it is is discussion, and should not say anything about "new" partners unless they have an agreed upon termsheet in place and working toward the actual agreement. Discussing termsheets is such a meaningless phase, as it amounts to getting a quote on the business contract. Also, stop with the "rapid acceleration of revenue" or whatever Nick keeps saying, which keeps turning out untrue, and then they keep having to make excuses for the why. When it happens, it happens, and will lead the sp up, you don't need to keep saying it like that will make it true. The science is not groundbreaking or field leading by any means, nor would anyone consider Pyc among the leaders in the field, but that doesn't mean that they cannot find peptides of therapeutic value, and they do have some quality IP if it stands. I have never meant to come across negative on this company, actually I believe that the company is UNDERVALUED, and it is disappointing, because that clearly hurts them with a sp so low. I think the Janssen deal could really change the path of Pyc for the better ((because it is the first deal I have seen that actually fits what their libraries may be suitable for application wise)), or at least get them on the road to breakeven and an sp price of 7-10cents a share. But management has got to stop the incessant hyping, no one is buying it anymore, and they should get back to focusing on the company metrics of cash sustainability and cash burn, and not executive salaries. I have no problem with incentive options, but you can't take them on top of six-figure salaries and company loans when you are losing so much money. Cut expenses to $4-5M a year (from $6M) and prove sustainability through your quarterly financial reports (Janssen will finally provide some quarterly cash flow, so no more quarters of zero revenue), and then when the news gets good, release it! Investors are going to stay negative, as long as the cloud of another capital raising hangs over the company (the only reason I'm not buying shares), although at this price I am considering it.