CASH, page-8

A simple but effective cost reduction will be to allow Nigel Johnstone to continue as interim CEO and not fill the FT position in the short to medium term. This will save $300k plus same with Chair - don't appoint a new Chairman let current temp chair stay until commercialisation saving probably in excess of another $100k pa. As bugger all will happen for the next year cut research and development for other class of wounds again until commercialisation is achieved.