please explain, page-4

At least BPH does have some alternative potential forms of future income eg mds and cortical if anything ever does come to fruition? and a tax loss can be achieved if more damage occurs to the SP as opposed to MMR being a PDF. Also at these current prices BPH is less than 0.05c p/s pre consolidation prices with a relatively small amount of shares on issue and a 27% interest in Advent. Also MEC now has 85% of Pep11 and I feel that has hurt the BUY s/p with now only 15% and a very large shareholding. Enough of my rant any thoughts appreciated as I am only learning. OW