Four years ago, at least two of our current and former members invested in NovaCal, developer of a very promising anti-microbial. It has changed its name to NovaBay Pharmaceuticals and secured an important strategic relationship with Alcon for eyecare products. It went public late last year. It is now traded on the Amex under the symbol NBY. The IPO price of $4.00 is reported to be 3.2X the adjusted investment price. For more information see the company website. Congratulations to those who could see the opportunity!