What's next, page-6

It was once Greg you need to look behind the facts of the allegations of villainy by Jones and his colleagues. Who is the recipient of any benefits of senseless allegations,? well the lawyers and the people who got the whole litigation frolic stated in the first place that's who , money and backside protection not to mention the unrequited ambitions of certain directors past and present and the megalomania of certain stock peddlers and funders

Why is the share price 1.2 cents? Down from 28 cents in late 2011. Yes quite a drop not a lot of directors can claim such a loss in value.

What are Jones and his colleagues doing ? The fact that they left the company solvent and funded in late 2011 maybe a clue ? A share price of around 25!cents is another clue? Well what is the answer?

The simple answer for Jones and his colleagues is that they are rightly defending wrongful claims to misconduct. And they are incensed that what they helped to create has become a disappointing farce.

The suit brought against them in the Supreme Court was designed by the proponents to disguise the red herring promotions by The substantial shareholder action group lead by Retirewell and Alan Baker who hatched a campaign starting in 2010 but fired in 2011 to oust Jones and colleagues based around(1) the Phase 11 Clinical trial in RA and potential loss of riches if Jones was allowed to conclude a deal with Novo and (11) Baker and the SAG's imaginary forecast of massive future riches If Jones was removed and the likes of Craven,Cameron and Brown were given control of the board. The deal with Novo sidelined.

The proponents included Adelaide share peddlers, Brisbane financial advisors the odd members of the Sydney rum corps and others including a few central Queensland wheeler dealers with connections in the Virgin Islands.. All Will be revealed in time.

When Jones was ejected along with Greig and Funder, there was a deal capable of completion with Novo Nordisk, different from the option to licence with Novo (because the trial missed the primary end points ), but which involved Novo working on formulation ( the problem suggested as the cause for the mixed trial results) while Cbio continued with a Phase 2 I.v trial in a type of lupus.

Baker and his cronies in the SAG ensured this wouldn't happen because they had their insider on the Board who , phoned Baker and Ross Himstedt from Dubai in July 2011 and advised them that the Phase 2(a) failure to meet the primary end points was a " simple" dosing problem. This same insider was also busy with posts on this blog site and crafting a press release with a certain Adelaide stock peddler and pumper. All from as early as late 2010 or even earlier.

That ill informed ( and unlawful) remark) caused 2 things (a) the failure of the Novo relationship and consequent failure of the drug development program and ( b) the removal of Jones , Greig and Funder and the resignation of Yeates.Followed closely by Dr Ando Chairman of Novo,Dr Kalland and other overseas directors. After which Cameron herself resigned ( within a few months of her Ascension) after an unfortunate stock sell down which resulted in ASIC investigating Novo's communications with CBio.

In October 2011 Cbio had a market cap of around $50 mills about $9.0 mills in the bank and its Share price around 25 cents. The cash more than adequate for a small lupus study and sustain the company while Novo did the formulation work.

Had the formulation work succeeded then XTOLL would now be close to market.

Had it failed the share price would have been 1.2 cents . And for the record Novo were negotiating in 2009/10 to acquire a majority holding in Cbio at a valuation of ~ $50 mills.

Certain of the current board have a lot to hide and to obscure their folly they have used and continue to use your monies to sue Jones and his mates... For the sole purpose of covering their tracks. Yes that's the reason for the high dudgeon Greg your money their backsides .That is why the fight . More to come and just maybe a a class action by those investors who bought into the peddlers deceits after December 2011.