Why would he go with NanoPierce and did BioAgra have other offers.

BioAgra had a number of financing offers. The terms were less favorable and demanded a larger percentage of ownership. NanoPierce offered the 50/50 ownership which gave them both mutual control of the business. Mr. Bartoletta would have had to give up control and any power of vote in going with other offers.

Secondly, none of the offers stepped up with any initial monies. Recall that as part of the intent of the JV announced in October 2004, NanoPierce gave a $400,000 down payment.

This was the clincher for Mr. Bartoletta going with NanoPierce. The downpayment enabled BioAgra to lock down the lease on the facilities in Hinesville, GA, finish the CAD of the production line, retain qualified contractors to build the production line, and retain qualified personnel to begin the operations.

As time drew on, raising the remaining funds was a great challenge. NanoPierce was offerred a number of toxic fundings, all were rejected. Mr. Bartoletta was anxious to get the production line built. He knows what BioAgra has the potential to achieve. So, last summer, it is fortunate, imho, that those of us who have supported NPCT for years, were able to step up and make this deal work.

If we had not, Mr. Bartoletta was in a position to take alternative offer(s), pay back the $400,000 to NanoPierce, and get the initial production line up and running. BioAgra would have flourished with less control and NanoPierce would have been history.

I have met everyone associated with BioAgra, including the primary contractor building the initial production line. The work this contractor has done is top notch. The plant manager is excellent and knows his business.

On a humorous note, when I visitted the plant at the end of January, I had my camera with me. The plant manager confiscated my camera. Mr. Bartoletta gave explicit instructions that no photography or mpgs were allowed. I had to ``negotiate`` to get the camera back and take only approved photos. They do not want to risk their plant designs to leave the building. And Steve, the plant manager, enforced the rule very well.

Geoff, as to shorting against the box. That is possible. That is another consideration of NanoPierce/VytaCorp in their accepting financing. However, anyone can short against the box. In that no volume of shares have hit the market to indicate any shorting against the box, the careful acceptance of funding by NanoPierce is evident.

Having said that, I will be frank. If we see a move either rational or irrational beyond the $10/share price, I would not fault anyone in taking capital off the table using any mechanism at their disposal. I have gone out on a limb before with my projections IFF BioAgra achieves what it has potential to achieve. I intend to hold a majority of shares in terms of years.

Regards,

Kent