With only $1.2 million left and six months to go if lucky (and...

With only $1.2 million left and six months to go if lucky (and they don’t do anything worthwhile ie just exist).

But more importantly have a read of the quarterly. I have repeated it below because it can easily fit on HC being so short on words. The company is DOING NOTHING and simply using your shareholder funds to pay the executives and Eugene.

Shareholder must demand more than this piece of condescending c#*p.

Certainly doesn’t look like a company about to make a breakthrough announcement does it.

The quarterly is below….

Review of Operations
Research and development (R&D) expenditure has further declined as the Company has now successfully completed the Phase IIa Clinical Trial. The Statistical Analysis Report has been completed and signed off by an independent Clinical Regulatory consultant, Prima’s Scientific Advisory Panel and the Company. The Company is currently undertaking the Final Clinical Data Report which should be completed by the end of the current quarter. The costs for the quarter were in line with expectations.

For the next two quarters the Company anticipates a significant decline in R&D expenditure. The Company has also taken steps to reduce other costs and expenses. Based on current forecasts Prima anticipates that cash reserves will last for in excess of 6 months.

During the quarter, the Biotechnology Innovation Fund Grant awarded to Arthron Pty Ltd in 2004 was terminated under mutual agreement with AusIndustry. The termination was required as a result of the sale of assets from Arthron Pty Ltd to Trillium Therapeutics Inc in 2005.

Prima has initiated a review of potential funding sources and is progressing confidential discussions with several financial institutions. The Company anticipates that by the end of the current quarter an announcement will be made about future funding to provide for the on-going initiatives of the Company in the longer term.