i have a feeling, page-5

Great post Kippax, thanks.

"The Company also registered for the R&D Tax Concession for the 2011 financial year and submitted a claim for $146,243. The Company will also make a claim under the R&D Tax Incentive program for the 2012 financial year for $158,000."

The annual report says that they've submitted claims for R&D tax concessions, is it a given that these will be awarded? And if so what would the timing of these rebates be? As they have produced another year of loss ($4.4m) would the rebate actually be available to them now, or would it be used to offset a future taxable position? I just had a scan of the ATO website and it looks like they acknowledge small cash hungry companies in tax loss positions and refer to the tax concessions as 'refundable' in order to improve cash flows, so it looks like you're correct in seeing these tax concessions as cash payments from the ATO to EMS.

I like your optimism that the 31/12/12 oppies will be in the money, and more likely the 30/06/13 ones too. Do you think that successful production of the first registration batch by 31/12/12 will put the 5c oppies in the money, or do you think it'll require a viable final clinical report?

EMS have pretty terrible form in meeting deadlines, but the life blood funding opportunity of the 5c oppies will no doubt be driving them to get one of these announcements out in time for conversion by 31/12/12. Both events are slated for December in the annual report.

I hope you are right Mr/Mrs Kippax, but at worst we'll get Hurley's suggestion of a bullish post conference announcement with some reference to progress on registration batches and the final clinical report in order to get another round of CR funding away.

All the best you crazily patient holders, let this be one of those 'down too far to sell so hold out beyond any reasonable measure of patience'. We'll call ourselves astute and rock steady in the face of adversity, truth is this owes most holders too much to bail out at these levels.

Like Kylie and Robbie Williams, and Bob Geldof, and Madonna, and Brad And Angeline, we're doing it for the kids. It will feel really, really warm and fuzzy if this laborious hound gets up off the mat and lands a massive haymaker on such a tragic and widespread killer.

Maybe it’s my coffee this morning, maybe it’s the Jacaranda flowers that are marking the usual increase of the WA spec market into xmas or maybe it’s you lot with all your positive posts, but I must admit, things are looking kind of exciting through to 31/12/12.