GTC Biotherapeutics (fka GTCB)

[DewDiligence]

>This is a direct contradiction to either your, or Newberry's, or both, statements less than a month ago. At that time you said no "going concern" qualification would be required prior to 2009, and the reason GTC sought funds was to improve their negotiating position.<

First of all, your recall is wrong: I did not espouse the notion that raising money in February was to strengthen GTC’s negotiating position; to the contrary, I ridiculed such a notion when it was posted on this board by others and I labeled Newberry’s comment as propaganda.

Regarding the going concern qualification, it would not have been included in the 2007 10K if GTC had inked the partnership deal by now, as originally expected. The qualification’s appearing in the 2007 10K after all is a direct consequence of the partnership delay and has no independent significance.