Jag-this,

Please explain to the board why you think today's Press Release "...on the surface would be considered good news"?

IMO CardioGenics tacitly acknowledged today that they have failed to meet their publicly stated timelines for initiating the head-to-head study. And, more importantly, tacitly acknowledged that they will not file the 510K submission in Q4 of 2011. Clearly this is not good news!!

IMO the share price did not crater more than it did because current shareholders (myself included) believe in the technology and refuse to liquidate their positions. With IRB approval in January the head-to-head study should be completed by the end of Q1; if the data is positive and Abbott (due to their own in-house studies) becomes a buyer of Cardiogenics paramagnetic beads, then I will no longer be a disgruntled shareholder.

If the share price falls to single digits as you predict, I will try to pick up additional shares with AON orders in blocks of 2500 shares but I do not have high hopes that any of my orders will be filled.

Ante