.....without a presentation to investors or industry professionals. No partnerships, no new product developments, no in-licensing, no progress of any type.

Hundreds of thousands out the door on Sedor and Feldman.

It appears Repros will have a testosterone gel on the market which works BETTER(read the data) than Testim. This means that Testim will have competition or Auxilium or Solvay will in-license the Repros drug and let Testim and/or Androgel fade away.

Either way, CPEX will no longer have a royalty stream and will quickly fold. Clearly, CPEX is doing nothing to save itself.

The royalty stream coming from Testim will soon vanish CPEX will continue to waste money on Nasulin and within 12 months, the Testim royalty stream will be substantially lower and CPEX stock will be selling at a significantly lower price. Within 18 months, the royalty will be gone entirely.

The only way to save CPEX is to create value. Sedor is doing nothing to create value. Sedor and Feldman must be replaced if CPEX is to be saved.