Well whaddayaknow, the Instos have turned up their noses at...

Well whaddayaknow, the Instos have turned up their noses at buying more of this wonder stock at 16.37c.

While there seems to be support at 14c, it should not take long for a few holders to decide that the game is up and seek to exit.

Waiting for Agitation results may not be a smart move.

I wonder what the cost of dismantling a large and exopensive team in Adelaide will be?

I suspect that it will eat into even more of their freshly raised cash.

isn't it funny that they still can't bring themselves to honestly disclose the NET cash position by explaining the actual level of borrowings.

They probably thing that they won the lottery getting BVF to kick the can for another $10m.

Directors fees are safe for a bit longer.

I wonder what the kiss off for the CEO will cost shareholders and where she will turn up next.

If I was trying to find a bottom for this stock, I reckon 10c might pull it up.

However, at 10c the stock would still have a valuation of circa $54m which seems about right......to me anyway.

Can't wait to hear about the SPP shortfall - won't that be a giggle.

GLTA

DYOR.

This is not advice - only my opinion.