today, page-21

Good Morning all,

I would like to support the directors in their decisions to sell some shares, particularly as most of them were a performance based.

As has been pointed out they are on low income packages. As a comparison I also hold shares for better or worse in a company called G I Dynamics. Some would say I need my head read for still being in this company and I would not disagree with any confidence. However it should be pointed out that between them the CEO and CSO take-home more than $2 million per year. This is in a company that is making very large losses and has no real prospect of making profits within the next 18 months to 2 years. As a result they are continually coming back to the market for large capital raisings (and annoying the heck out of me!).

At the risk of mixing the discussion up a bit and confusing the threads I also believe that the GSK space analgesia studies are to do with their Panaflex product which is of course a diclofenac transdermal patch marketed mainly as far as I can see in Asia. OBJ have previously looked at diclofenac absorption and it would seem to be a very smooth fit with an existing product. This would then be a reasonably obvious competitor to our bodyguard product although I realise the mechanism of action should be somewhat different.
You may also be aware of the difficulties that some analgesic companies have had with marketing of so-called "targeted" analgesic oral preparations. The bodyguard product and indeed other transdermal delivery devices may be more able to be marketed in this manner. Targeted marketing so to speak is obviously very attractive to these companies and perhaps will be a way forward for the marketing of products with our technologies.
The only downside I can see in the entire OBJ story is why it is taking so long for GSK to obtain ethics approval for the oral health study. This has been ongoing for many months and it concerns me as to what may be the hold up. I do look forward to an announcement from the company indicating that the study has commenced.

Cheers
all the best to everybody