update, page-12

On a peer comparison, their are many bio stocks in the $10-20mil range. Most don't have a product. Some do. But we appear cheap imo. History is holding us back and a lack of glamour. We don't have a cure for cancer or HIV.

Having said that, clearly we deserve to be rated higher. Probably around the $20mil figure you mention. To do that PNO only needs to gain credibility. Release the two new products on time and hopefully straight into existing deals with CW.

Do that and show that cash burn was reasonable last quarter and that sales are growing. That is a recipe for a gradual increase in sp. And remember gradual in the context of PNO is 25% per uptick.

I would expect if we do what we have planned, and assuming no cr or only minor placement to sophs, then by years end we should be 1c.

Stuff it up and who knows. It doesn't look like much downside, but look at INT as an example. Find yourself short of cash at these levels and you quickly findout that the options a few and far. Sp can plummet rapidly.

INT is a different sector, but they have more revenue than us. Appear to have high growth prospects. Yet their market cap is half of ours. You will always get unloved stocks on the asx. But I think PNO will regain market love.