will it close out with, page-26

Hi mudpecker,

Planning and executing a sales campaign is like planning a military campaign and from planning to execution to a result can easily take 12-18 months with deals like the ones we are looking for. A serious campaign targeting big pharma cannot really be done effectively by one person and PF was all we had for quite a while. Now that we have additional in-house and external resources working on closing a deal we should be in a much better position, however, Carl has only been with the company for 6 months.

I was always of the view that we should have spent more on sales and at an earlier date but that is all history.

From the outside it is not possible for shareholders to know exactly how a campaign is going. Even if PF could tell us, for commercial reason he obviously wouldn't. This lack of visibility is very frustrating especially for any of us who have worked in an executive role and thinks they may have done things differently or better.

As I have said previously we only have 3 weeks at the most to wait before BLT has to give us and the ASX an inkling of where we are going and at this stage I still have faith in the current team. My only concern is that in all these presentations that the team publishes there does not seem to be any recognition of the "What's In It For Me" principle. A basis tenet of sales is to make sure your pitch is targeted at your audience so that they can instantly see "What's in it for them". BLT's presentations are all generic and so they leave it up to the listener to draw what conclusion they want from the presentation. To me, this is very unsatisfactory and so, if the campaign is as "generic" as the presentations, then I am afraid it will fail; in the same way the presentations have failed to attract new investors.

As I said, I am still showing faith in the BLT team and giving them the benefit of the doubt but the clock is ticking.