Dog,

Does the KPMG restated 10K reflect an annual cash burn of +/- $4-5 million? If not where did you find this burn rate?

I will look this up tonight but I am under the impression that Cardiogenics' annual cash burn is much lower; something in the neighborhood of $1.5 million in 2011 per KPMG with a total cash burn from inception of Cardiogenics (1997) of slightly less than $6.5 million (again per KPMG).

Given the terms of the previous PIPE negotiated by Dr G, I would anticipate a similar size PIPE with hopefully the same terms regards no warrant coverage. If correct another four to five million shares would be issued.

Ante