It ain't over till it's over... Well that did suck. Yet it was a no with conditions wasn't it? Few points: Problem was the small trial size. It does not seem that MCNA is in-effective just that the testing was inadequate. That is a huge plus. FDA said they would work with management: Is that a standard reply (nice try kid, try again) or is that a positive sign that FDA thinks it is a valid product? One that just needs more testing. Assets are more than current valuation! Bank funds and property. Now that is a huge upside. Question: Cost and timeline for a new Phase III trial. Other markets: possible but I don't put much weight on this. Most follow FDA. Value of intellectual property: the real value of Telesta. Now that FDA has made a decision, we have a clearer picture. Partnerships/buyouts are more probable now. New very low valuation adds to that. In Cdn. $$$ too. Below value valuation makes buying more a worthwhile speculative idea. New TFSA limit of this year means 60,000 shares can be bought at this level. Despite the hard crash - only about 12% of shares sold. Overall: I cannot foresee a lower share price. Upside is very good. It will take some time though. I did not sell nor am intending on selling. Let's see what management has planned.