EASTLAND UPDATEEastland has been working to understand the...

EASTLAND UPDATE

Eastland has been working to understand the implications of the message that it received and reported last week regarding the Tanzanian and Ghanaian trial sites.
There was a delay in contacting the ProtoPharma Directors as a key Director had been involved in an accident and was not available for discussion. We have now had a number of communications with the Directors of ProtoPharma and we can report the following.

? The Directors of ProtoPharma have confirmed that the ART004 trial is still progressing and; ?? that the trial at the Burkina Faso site is still enrolling and treating patients?.

? The Directors of ProtoPharma have also stated that they; ?? expect that the trials will commence in Ghana and Tanzania as soon as the financial situation is resolved. So between the four sites, there will still be a total of 150 Patients plus spares if necessary so no part of the trial should be compromised.?

Whilst Eastland?s Directors believe that ProtoPharma?s actions will have some impact on the completion date for the trial, we are still awaiting confirmation of a trial completion date from the Directors of ProtoPharma.

With regards to the cash-flow concerns that ProtoPharma have mentioned, EMS Directors have reported previously:
? EMS is contractually responsible for all agreed costs related to the ArTiMist project development and payments are made on a pass through basis (cost plus margin) as and when received from ProtoPharma and verified by EMS.

? EMS is up-to-date with its payments to ProtoPharma on invoices received for confirmed expenditure. Moreover, EMS is fully funded to meet its contractual obligations to ProtoPharma in relation to the current ART004 Study.
This being said Eastland is working with ProtoPharma to assist in resolving their cashflow issues and have offered a number of solutions for the ProtoPharma Directors to consider