where are we at at the moment ?, page-25

If this has the massive potential some of you are
predicting, why are so many of you worried about
considerable further dilution. One thing that does
concern me is the apparent “throw in the towel”
attitude regarding royalties. I would hope that
a 20% royalty would be at the bottom end of
the negotiating range. Not 10-15%( if it is such
a blockbuster). I still think there is a good
.chance it will be. I postulated some figures about
12 months ago, that by 2030 PAR shares could
be worth $10-$240, based on DMOAD approval
or not, 1-10% market penetration of TAM in
high income nations, 20% royalty and 500M
shares on issue. Would have to concede there
may be well over that number of shares
around by then.