Viper, I feel your pain... it's mine too! I think that what they wrote is the bare truth; that even with a successful P-III, by the time they got it there, the cost to do so and the competition they would face would be too much. Another one bites the dust! However, I bought for two reasons, one of which is still very much alive... their ongoing contract lab work which is looking better and better. I'll probably hold through the next couple of quarters and see where that goes, as there's certainly no point in selling now!