Proteome Sciences. AGM Statement.

sorry bluemango - I probably did not word my post well. I did not mean, necessarily, the end of the year specifically for raising funds. I was more trying to make the point that recent history with PRM has at least taught us all that a few months is not a long time in terms of negotiating with big pharma, but it is quite a long time in terms of the remaining cashflow. None of us outside of the company can know exactly how far the cash will go, but from memory we had less than 6 months left when we took on another years funding in April (cash that the directors said we would never ever need!). So ,excluding grant monies (which will more than likely be tied to particular projects), we must have less than a years cash left now? The very difficult question is how close do they think the deal is, and will it be big enough to make PRM cashflow positive? There are many companies (OXB for example) who do not like operating with less than one years cash, no matter how close the deal supposedly is. Lets face it - CJP and PRM have not been very good at predicting near term. fact :)

Don't get me wrong - I sincerely hope that this situation does not eventuate, but given past dissapointments I think it has to be considered. I am still very long - but very disgruntled.

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