Ann: Preliminary Final Report, page-32

Thanks mate. I have no problem at all with you stating an opinion; my response merely pointed out what I see as the flaws in your approach. If you applied the ratios you mentioned to most biotechs, mining explorers or other listed blue-sky companies, you would get the same result most of the time. Those ratios don't paint a useful picture when a company is in a start-up phase. (And it wasn't you I had a go at, if you remember, it was Siren whose post was offensive).

More importantly - I see the patents, but where does it say that they are valued as intangible assets? I don't see how they could be, unless accounting rules have changed. The patents certainly are assets and they are clearly not tangible, but they can't have a value put on them at the moment so they can't appear on the balance sheet.