the morning after

1. Fortrend's licence (Joe Forster) was cancelled by ASIC for a couple of years until recently. An invesmtent bank? Hardly IMO.

2. Fortrend have even sold the same gig to one of the biggest dogs on the ASX - Rockeby. Fortrend preys on such companies who are almost at the point of voluntary administration. They already had a convertible loan facility in place before Fortrend's arrival. The others that had no choice to succumb to Fortrend also outlined a few journals of choice which mentioned certain applicable technology. Same.

3. PRR has just sold shares to a pro-trader at 2.6c who does not need to report any change of holding. They have given recently shares for services at under 2c.

4. The Top 20 holds 23%. Not one holder holds more than 5%.

5. Prof Fraser also acts for other ASX bio-minnows with tiny market caps.

6. The comparison to Dendreon is akin to when U minnows were comparing their tenement in the outback to Paladin. It's formula.

7. The latest attempt at a SPP in December last year failed at 0.005c, only raising $198,000 with 40m shares dilution. Participants have made at current prices 1000% plus. The company is desperate to maximise cash levels.

8, Massive dilution ahead (Fortrend dilution, the "philanthropist's" holding, potential option exercise and now the SPP) . The registry has been analysed - you'd be surprised how many holders there are of PRR hence the SPP - all daytraders. Evidence of multi HINS in recent activity IMO.

9. The current market cap of PRR is way way in excess of it's current undiluted market cap.

9. Enormous ramping, multinicking, monkey chatter etc on online forums. Some are cutting their teeth on her.

10. Old hands are laughing. The latest quarterly states they have $281,000 in the bank.

11. Only hope of those holding at much higher prices is the couple of patients in Australia who are receiving the Cvac via the SAS. However, it is not a clinical trial. FDA approval and potential IND approval are not mutually exclusive IMO. The hope is that sufficient daytraders and potential holders have no idea of biotechnology and it's value - a premise that has been very evident by some holders on Hot Copper.