trading halt, page-8

Hoyland, please let me share a sad experience with you. Several years ago I bought big into a company with the ticker CQU. I can't remember the finer detail but is was media company with a new slant. They even got Paris Hilton to promote the Company. But the MD mismanaged and lost 50 million, which was most of the Companies assets. So they made a placement at next to nothing which resulted in the white knight acquiring a controlling interest. To cut a long story short, the white night ended up taking over the company for next to nothing. They acquired my shares by compulsory acquisition. I sought legal advice and was told that whilst I had a case, it would cost too much to fight.

If I were an evil pharma, I could easily do the same with BLT. Naive and inexperienced management might pontificate but would be out of their depth. And it wouldn't cost much at all. Given that many of BLT's programs are ventures with others doing the actual work, there would be no loss of intellectual results. Sound like fiction? Well with CQU it actually happened. We need far more transparency from the BOD of BLT to protect our own interests.