I was wrong about the ex-board memeber Mike Nelson. There is a cease trade order in effect at this time for insiders. Mr. Nelson is consider an insider until 30 days of his leaving the company is up. And by the looks of the last news release he still may have a chance to cash his 400,000 options in before his 30 days are up. I think that the financial statements will be filed before the confernce call. It would save them alot of confernce call headaches if its filed before or on Wed July 23, 2008. For the price and timeline well if everthing goes ahead as planned than I will be kind of amazed that it happened. But with the new memebers of the board and Mr. Nelson leaving it may finally come true. Hopefully by Nov. we should be around the $1.50 range. I still only have 6,500 share since my $1.00 sell off but if news is good from the confence than I may reload again.

Palladon Ventures has nothing new to report

2008-07-16 17:35 ET - News Release

Mr. Donald Foot reports

MANAGEMENT CEASE TRADE ORDER UPDATE

As reported in Stockwatch on July 2, 2008, as a result of the delay in filing its Feb. 28, 2008, annual financial statements (and annual management's discussion and analysis related thereto) by the required filing date under applicable Canadian securities laws, Palladon Ventures Ltd. requested, and the British Columbia Securities Commission and the Alberta Securities Commission have issued, a temporary order that prohibits, effective immediately, certain current and former directors, officers and insiders of Palladon from trading in securities of Palladon.

The delay in the filing of the fiscal year-end financial statements is due to the company suffering a computer system failure, in both its mainframe and backup systems, in which it lost relevant financial information required for its year-end audit.

As of July 16, 2008, the company has no changes to report and the management cease trade order is still valid. There has been no material change in the information contained in the notice of default disseminated on July 2, 2008, and the company expects to file the fiscal year-end financial statements well before Aug. 27, 2008. Palladon intends to satisfy the provisions of Appendix B -- default status reports to policy document 57-301 as long as it remains in default of the financial statement filing requirement. Palladon is not subject to any insolvency proceeding.

There is no other material information concerning the affairs of Palladon that has not been generally disclosed.