Gee whizz folks. I reckon this one could be the next SBM. Pressing upwards at the moment on ever increasing volumes.

Some of the similarities to SBM include good fundamental assets in
its IP as with SBM's gold fields, long downward trend being broken
by a bottoming out and range bound trading for a long time currently threatening break out. Series of legal and partner spats resolved. A capital restructuring. And in September interest from un-named outside parties.

The cap restructure was made with an option attached exercisable
@32c in 08. It was a non-renounceable rights issue which means no
secondary market available for those who didn't want to take it up.
Which suggests to me the underwriter, in co-operation with the
directors as sub-underwriters, wanted in with leverage out to 08.
This is where the little guy gets stuffed over by the big guy. The big guy in this case was Citibank associated. [:0]

The IP infringment litigation was resolved, according to them successfully. Financial details are suppressed but I believe their patent was upheld which means licensing fees etc from those using the IP. In other words an up tick in revenue with no exclusive arrangements to the opposing party. Meaning potentially more revenue from other licensee's in the future. I think this is being challenged at the moment which means it must be valuable if the licensee wants exclusivity.

Further, looking forward they expect to have two trials go to phase
1 next year. One for HIV and the other for Hep C. Monte Carlo
valuation should raise the inherent value along with increased
licensing fees as these do. However they also raise the cost base.

Market cap is nearly $23m @15c. Most of that is cash value.