Ann: Appointment of Navigant Capital Advisors, page-8

ALT was set up as a vehicle for developing medical devices and there were/are still a few good ideas for products but lack of big gains on first two products has turned ALT into a two trick pony or a still birth (pick your metaphor); progress was slowed by some diversions in strategy due to inexperience, small size and personal influence on decisions; sale of co was not always on the agenda but has been for the last couple of years for several reasons some to do with company and some private; MM would be happy to exit at a reasonable price on reasonable terms but doesn't want to give it away and took steps to ensure he has the right of veto; if we get more than one party involved we may yet get a good outcome; just my thoughts as always, and always worth what you pay for them.