Ann: Phosphagenics Arbitration Award Issued, page-61

I was out on open for 0.06c but I only had punt money in this time, still a chunk but controlled myself. I'd lost far too much in previous years to think POH management bringing this home was a given. Sorry for the long stagers who have taken hit after hit here.

Anyway, where to from here? People need to dust themselves off and start to look objectively at things.

The company is worth something:
1. Agreements are in place, although ponderously sketchy, so that has value
2. IP & Patents are probably worth something, so that has value
3. Company structure, even as a bio shell is worth something, so that has value
4. Any royalties from Dapto etc, if they can afford to chase them
5. Running costs can be slashed to someone targeted at realising value out of items 1 to 4 above, so that has value if they can lean off to say 1 person

Against that are the costs of litigation and any awarding of costs for Mylan. Of course this could sink the company but perhaps some scheme can worked out. So where do you end up with this? Is there enough in 1 to 5 to cover the costs?

I cant see any other rabbits left in the hat right now. Any ideas?

I certainly will be evaluating entry into any Oz bio with a very jaundiced eye from now on. You spend ten years getting played, management are scant on talent, and then you get eaten up by the whales for peanuts.

Sorry sentiment None Not Held