Ann: Phosphagenics Arbitration Award Issued, page-74

Commiserations to shareholders. Unfortunately, if that adverse costs order occurs, that would create unsecured debt in the company equal to the legal expenses of the other party, likely to be equal or greater than what POH spent. Unsecured debt ranks higher than shareholder equity. Assuming this figure is equal to the company's $5.6 million, this will indicate that the company cannot satisfy its current liabilities with its assets (going concern) and go into voluntary administration. From there, its either the big bio's acquire the company for free or take the cash and royalty to satisfy the debt, leaving equity holders with nothing. I hate to see this happen to small companies that take on big bio companies