Dr. Alan Wall:

The money had been spent. The board had no obligation to tell us about this. For us, the issue that arises from this, and the reason we need to be very careful about what we do next and the questions we ask, is around governance and other matters as we read these things backwards. There was no money expended. Had we awarded some money in the process, due diligence would have been done about things like site and so on. That would have been done but it was not because that did not happen. UL had bought the site and we moved on.