Hi Kent,

Please understand that my comments are not directed at you, although I do understand their implication. When I first invested in Nanopierce in early 2000, it was a trusted friend who suggested I look at Nanopierce. He also recommended that I listen to your commentary.

It goes without saying that I am now a skeptic, particularly with respect to management's capabilities. I saw a different side of the business with the Brunetti deal. I realized at that point that management was out for themselves. I felt sorry for investors who lost money in Intercell.

I invested a great deal of money in Nanopierce stock when it was over $6.00. That stock is now worth about 2 cents. No matter how well ExypnoTech does, I suspect that my original investment will only be worth pennies on the dollar. I take responsibility for my investment. I learned several important lessons from my investment in Nanopierce.

Regarding the testing and cost-benefit issues, management failed terribly. These were critical errors, and there is really no excuse for experienced business managers to not recognize their importance.

Mid-South may be a non-event to you; but, to many investors it was a publicized event that involved a real, paying, customer. Who was responsible for the breakdown in that committed sale... BioAgra or Mid-South? This sure smacks of the broken LOIs and other related agreements with Nanopierce.

I'm looking for a few events which would validate management's ability to operate a start-up, as well as validate the demand for Agrastim. I would like for someone to list any commercial successes at Nanopierce, Intercell, or Vyta that would command additional investment by any long.

Jeff