Ann: Converting Note & Non-Renounceable Entitlement Offer, page-35

The Board were only ever going to duck for cover when it was risky and hard work and become an asset if it launched its breakthrough. Phelps, Carlisle as Phelps' manager, and Kennedy would have been assets if it was all cleared.  But we all know, the delay to getting anything cleared resulted in cash burn too high for the staff to be paid while there was no product, and the board have been a liability  - letting the Chair dismiss the CEO without any evidence and without having the decency to inform the market. Similarly they haven't informed the market of the CFOs departure. The key now is that there is no commercialization plan and I have just seen the first statement of claims of a law suit (others no doubt have too) against the board for their lack of transparency and poor judgement taking the company down. 2.3c, an FDA report that demands a new study, a shareholder being compensated by giving his wife a big salary in the company... they should close up shop and give the tech to people who know what to do with it. This tech is needed. Shame there is no one left who knows how to use it.

The best and only return is going to be on of from a law suit either by MEB to Khouri, class action to Board or a takeover.