-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 QIQRZiWxo/jqaL3jeinVxsxzRfNmcp6Kd+hTkguRlrstqSlT4XcjeG9jL1Teuj1F
 dfoqX+S1yjNartzpTbvifw==

<SEC-DOCUMENT>0000950144-07-000447.txt : 20070315
<SEC-HEADER>0000950144-07-000447.hdr.sgml : 20070315
<ACCEPTANCE-DATETIME>20070122205159
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950144-07-000447
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20070122

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ORTHODONTIX INC
		CENTRAL INDEX KEY:			0001006281
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MANAGEMENT SERVICES [8741]
		IRS NUMBER:				650643773
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2 SNUNIT ST
		STREET 2:		SCIENCE PARK, POB 455
		CITY:			CARMIEL
		STATE:			L3
		ZIP:			21000
		BUSINESS PHONE:		972-4-988-9488

	MAIL ADDRESS:	
		STREET 1:		2 SNUNIT ST
		STREET 2:		SCIENCE PARK, POB 455
		CITY:			CARMIEL
		STATE:			L3
		ZIP:			21000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ORTHODONTIX INC
		DATE OF NAME CHANGE:	19980422

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EMBASSY ACQUISITION CORP
		DATE OF NAME CHANGE:	19960124
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>Correspondence</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Morrison &#038; Foerster LLP<BR>
1290 Avenue of the Americas<BR>
New York, NY 10104<BR>
Telephone: 212-468-8000<BR>
Facsimile: 212-468-7900<BR>
www.mofo.com

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="27%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="27%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">January&nbsp;22, 2007
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD nowrap align="left" valign="top">Writer&#146;s Direct Contact
</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD align="left" valign="top">212.468.8163</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD nowrap align="left" valign="top">JTanenbaum@mofo.com
</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Ad&#233; K. Heyliger<BR>
Ms.&nbsp;Elaine Wolfe<BR>
Ms.&nbsp;Pam Carmody<BR>
Attorney-Advisors<BR>
Division of Corporate Finance<BR>
United States Securities and Exchange Commission<BR>
100 F. Street, N.E., Mail Stop 7010<BR>
Washington, D.C. 20549

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">RE:</TD>
    <TD>&nbsp;</TD>
    <TD>Orthodontix, Inc.<br>
Schedule&nbsp;14F-1 filed on December&nbsp;18, 2006<BR>
File No.&nbsp;005-50118</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ladies and Gentlemen:

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On behalf of our client, Orthodontix, Inc., a Florida corporation (the &#147;<U>Company</U>&#148;),
transmitted herewith are responses to the Staff&#146;s comments to the Information Statement filed on
Schedule&nbsp;14F-1 by the Company (the &#147;<U>Schedule&nbsp;14F-1</U>&#148;), which comments were set forth in the
Staff&#146;s letter dated January&nbsp;17, 2007 (the &#147;<U>Comment Letter</U>&#148;) to Joshua Goldstein of
Morrison &#038; Foerster LLP.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For ease of reference, we have noted the Staff&#146;s comments in bold faced type and the responses
in regular type. Per our discussions with the Staff, no amendments to the Schedule&nbsp;14F-1 are being
made.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>We note your response to prior comment 1. We note that Section&nbsp;2.</B><B>5(b)</B><B> of the
Agreement and Plan of Reorganization (Exhibit&nbsp;10.10 to the </B><B>Form 8-K</B><B> filed January&nbsp;8,
2007) provides that shares of Protalix held by existing shareholders prior to the
merger &#147;will be converted into the right to receive such number of shares of Parent
Common Stock, which... shall constitute in</B>
</TD>
</TR>
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Page 2

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&nbsp;</B></TD>
    <TD width="1%"><B>&nbsp;</B></TD>
    <TD><B>the aggregate, 85% of the issued and
outstanding share capital of the Parent upon the Merger Effective Time&#148; and that the
Agreement requires the Parent to file an S-3 to register the resale of such shares.
While you have provided your analysis as to why you believe the Parent is not a party
to the merger, despite the fact that the Parent is a party to the merger agreement
and is providing the merger consideration, it is unclear as to why the transaction
would not be governed by the provisions applicable to a share exchange under FBCA
607.1102. Accordingly, please provide us with a reasoned opinion of counsel that
addresses why shareholder approval was not required in these circumstances.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Staff&#146;s request, we enclose with this letter a legal opinion issued by
Greenberg Traurig P.A., counsel to the Company, that the transaction described in the Merger Agreement and
Plan of Reorganization should not be deemed a share exchange under Section&nbsp;607.1102 of the Florida
Business Corporation Act and that shareholder approval was not required in connection with the
transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please call the undersigned at the telephone number set forth above or Joseph Magnas at (212)
336-4170 with any questions or comments you may have regarding the responses set forth herein. In
addition, please send all written correspondence directly to the undersigned and Joseph Magnas of
Morrison &#038; Foerster LLP, 1290 Avenue of the Americas, New York, New York 10104, telecopy (212)
468-7900, with copies to David Aviezer, Ph.D., the Company&#146;s Chief Executive Officer at 2 Snunit
Street, Science Park, P.O.B. 455, Carmiel 20100, Israel, telecopy &#043;972-4-988-9489.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sincerely,

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">/s/ James R. Tanenbaum

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">cc:</TD>
    <TD>&nbsp;</TD>
    <TD>David Aviezer, Ph.D.<br>Yossi Maimon</TD>
</TR>
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;January&nbsp;22, 2007
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Orthodontix, Inc.<BR>
2 Snunit Street<BR>
Science Park<BR>
POB 455<BR>
Carmiel, Israel 21000

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ladies and Gentlemen:

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have acted as counsel to Orthodontix, Inc., a Florida corporation (the &#147;Company&#148;), in
connection with the Merger Agreement, dated as of August&nbsp;21, 2006, as amended (the &#147;Merger
Agreement&#148;), among the Company, Protalix Acquisition Co., Ltd., an Israeli company and Protalix
Ltd., an Israeli company. All capitalized terms used herein which are defined in the Merger
Agreement shall have the respective meanings assigned to them thereunder unless otherwise specified
herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You have requested us to review the transaction as contemplated in the Merger Agreement (the
&#147;Transaction&#148;) and, specifically, whether consummation of the Transaction constituted a Share
Exchange governed by Section&nbsp;607.1102 of the Florida Business Corporation Act, as in effect as of
the date hereof (the &#147;FBCA&#148;) and, regardless of whether the Transaction is governed by Section
607.1102 of the FBCA, whether the Transaction required approval by holders of a majority of the
shares of outstanding common stock of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In preparing this letter, we have reviewed the Merger Agreement and all documents referenced
or contemplated therein. We are attorneys admitted to practice law in the State of Florida, and we
do not purport to be experts on, or to express any opinion herein concerning, any law other than
the laws of the State of Florida, the federal laws of the United States of America, and the General
Corporation Law of the State of Delaware.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>A.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B> Discussion of Relevant Provisions of Florida Law</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;607.1102 (captioned &#147;Share Exchange&#148;) of the FBCA provides, in pertinent part, as
follows:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#147;(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A corporation may acquire all of the outstanding shares .... Of
another corporation if the board of directors of each corporation
adopts and its shareholders (if required...) approve a plan of share
exchange.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;&nbsp;(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The plan of share exchange shall set forth:</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Orthodontix, Inc.<BR>
January&nbsp;22, 2007<BR>
Page 2

</DIV>


<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The name of the corporation the shares of which
will be acquired and the name of the acquiring corporation</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The terms and conditions of the exchange;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The manner and basis of exchanging the shares
to be acquired for shares, obligations, or other securities of
the acquiring or any other corporation or, in whole or in part,
for cash or other property, and the manner and basis of
exchanging rights to acquire shares of the corporation to be
acquired for rights to acquire shares, obligations or, in whole
or in part, other securities of the acquiring or any other
corporation or, in whole or in part, for cash or other
property.&#148;</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;607.1101 (captioned &#147;Merger&#148;) of the FBCA provides, in pertinent part,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; One or more corporations may merge into another corporation if the board of directors of
each corporation adopts and its shareholders (if required) approval a plan of merger.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The plan of merger shall set forth:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The name of each corporation planning to merge and the name of the surviving corporation
into which each other corporation plans to merge, which is hereinafter designated as the surviving
corporation;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The terms and conditions of the proposed merger; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The manner and basis of converting the shares of each corporation into shares,
obligations, or other securities of the surviving corporation or any other corporation or, in whole
or in part, into cash or other property and the manner and basis of converting rights to acquire shares of each corporation into rights to acquire shares, obligations, or other securities of the
surviving or any other corporation or, in whole or in part, into cash or other property.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>B.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B> Relevant Case Law</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An exhaustive search of Florida case law resulted in our belief that there are no Florida
cases interpreting the definition of a &#147;share exchange&#148;. However, commentary by Stuart R. Cohn, a
leading expert on the FBCA and Professor of Law at the Levin College of Law at the University of
Florida, states as follows:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In a share exchange, one corporation acquires all of the outstanding shares of one or more classes or series of shares of another
corporation, with the acquired corporation retaining its
</TD>
</TR>
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Orthodontix, Inc.<BR>
January&nbsp;22, 2007<BR>
Page 3

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>separate corporate existence....One distinguishing feature of the
share exchange is that none of the corporate parties to the exchange
disappears. Instead, the acquiring corporation acquires all the
outstanding shares of one or more classes of the &#147;acquired&#148;
corporation....Prior to the adoption of the share exchange form of
transaction, the same result could be achieved by &#147;reverse
triangular merger&#148; in which a &#147;temporary&#148; subsidiary corporation was
formed by the acquiring corporation followed by the &#147;reverse&#148; merger
of the newly-formed subsidiary into the target corporation. The
share exchange transaction can be effectuated without the formation
of the temporary or &#147;transitory&#148; corporation.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based upon with Dr.&nbsp;Cohn&#146;s reasoning, we distinguish between a reverse triangular merger and a
share exchange. The Transaction was effected through the form of a reverse triangular merger.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An exhaustive search of Florida case law resulted in our belief that there are no Florida
cases interpreting shareholder suffrage issues in the context of a triangular merger. However, the
United States District Court for the Southern District of Florida has ruled on this issue within
the context of facts that are significantly similar to the Transaction. In Equity Group Holdings v.
DMG, Inc. et al. (576 F. Supp. 1197 (S.D. FL 1983)), the court had to rule with respect to a
triangular merger, the facts of which mimic the Transaction. A publicly-traded parent company
merged a subsidiary with and into the target company to be acquired such that after consummation of
the merger, the surviving company consisting of the merged subsidiary and the target was a
wholly-owned subsidiary of the parent. The consideration for this merger was shares of the parent
constituting over a majority of the parent&#146;s issued and outstanding shares of common stock. The
shareholders in that transaction sued claiming Florida law required shareholder approval (the
shareholders sued because the parent was traded on the New York Stock Exchange, the voting
requirement for which was lower than would have been the case under Florida law had the court
determined Florida law required such a vote). The court held that it could not surmise from the
FBCA that Florida intended anything other than to allow triangular mergers to occur without the
necessity of a vote. Accordingly, only the voting requirements of the applicable exchange
controlled.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In ruling as such, the court expressly stated as follows:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Moreover, it cannot be said that corporate suffrage with respect to
the shareholders of a parent corporation in a forward triangular
merger of its subsidiary with another corporation is a value which
the Florida legislature has seen fit to recognize. Florida Statute
Section&nbsp;607.221 &#091;the precursor statute to the provision quoted
above&#093; guarantees voting rights to the shareholders of the merging
subsidiary and the third company, the target or on-surviving
</TD>
</TR>
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Orthodontix, Inc.<BR>
January&nbsp;22, 2007<BR>
Page 4

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>corporation; but the section does not contemplate the triangular
situation with which the Court is herein faced. The Florida
statutes permit the use of the parent&#146;s shares as merger
consideration. Coupled with the tax advantages and tax-free status
of the triangular merger under the Internal Revenue Code, and the
convenience of a merger by exchange of stock rather than assets,
this is just the type of transaction which the legislature cannot be
presumed to have overlooked. In fact it might be inferred that the
legislature intentionally did not want to discourage such forms of
merger by awarding voting or appraisal rights to the shareholders of
the parent. It will be noted that commentators familiar with the
drafting of provisions authorizing triangular mergers support
exactly this position. See generally S. Schulman and Alan Schenk,
&#147;Shareholders&#146; Voting and Appraisal Rights in Corporation
Acquisition Transactions&#148;, The Business Lawyer, vol. 38 at 1529,
1537-42.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Id. at 1206.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Schulman and Schenk commentary noted above, in turn, provides, within an exhaustive
discussion of the mechanics of triangular mergers, &#147;nothing in the Model Act specifically extends
rights to the parent&#146;s shareholders.&#148; It should be noted that the FBCA was based on the Model
Business Corporation Act to which the commentary refers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>C.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B> Comparable Transactions</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In preparing this opinion, we have also conducted a cursory review of several comparable
transactions by Florida publicly traded companies. We noted no evidence of shareholder approval
having been obtained by the respective parent in any of these transactions:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Andrx Corporation&#146;s (&#147;Andrx&#148;) acquisition of Mediconsult.com, Inc. (&#147;Mediconsult&#148;) by
merger of Mediconsult with and into a wholly-owned subsidiary of Andrx. (see Form S-4/A
filed by Andrx on February&nbsp;12, 2001)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Brown &#038; Brown, Inc.&#146;s (&#147;B&#038;B&#148;) acquisition of Golden Gate Holdings, Inc. (&#147;Golden Gate&#148;)
by merger of Golden Gate with and into a wholly-owned subsidiary of B&#038;B (see Form S-4/a
filed by B&#038;B on October&nbsp;2, 2001)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>OrthAlliance, Inc.&#146;s (&#147;OrthAlliance&#148;) acquisition of Orthodontic Centers of America,
Inc. (&#147;OCA&#148;) by merger of OrthAlliance with and into a wholly-owned subsidiary of OCA (see
Form S-4/A filed by OrthAlliance on October&nbsp;5, 2001)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Xedar Corporation&#146;s (&#147;Xedar&#148;) acquisition of Premier Data Services, Inc. (&#147;Premier&#148;) by
merger of Premier with and into a wholly-owned subsidiary of Xedar. (see Form 8-K filed by
Xedar on January&nbsp;5, 2007)</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Orthodontix, Inc.<BR>
January&nbsp;22, 2007<BR>
Page 5

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>D.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B> Discussion</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The transaction fails the threshold question set forth by Prof. Cohn for determining whether
it is a share exchange, which is to ask whether the acquired corporation has retained its separate
corporate existence with none of the corporate parties to the &#147;exchange&#148; disappearing. To the
contrary, the Company&#146;s subsidiary does, in fact, disappear in connection with its merger with the
target, which, in turn, becomes the surviving company. Were the transaction to have been
structured as a share exchange, the end result would be a three-tiered structure with the Company
owning Protalix Acquisition Co. Ltd. and Protalix Acquisition Co. Ltd. owning Protalix Ltd. No
such final structure exists in this transaction. It is further instructive that Prof. Cohn
expressly distinguishes between triangular mergers and share exchanges, thus highlighting the two
are separate and distinct transactions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the alternative, even if the Transaction were deemed to be a share exchange, the statute
grants shareholder approval rights only to the parties that are directly parties to the share
exchange, even where securities of a third party corporation are used as consideration for the
exchange. As a point of statutory consistency, Section&nbsp;607.1102(2)(c) uses the language &#147;exchanging
rights to acquire shares of the<BR>corporation to be acquired for rights to acquire shares,
obligations or, in whole or in part, other securities of the acquiring <B>or any other corporation</B>&#148;
(emphasis added) reflecting the legislature&#146;s intent to allow securities of a third party
corporation to be used. Yet this &#147;any other corporation&#148; language does not appear in Section
607.1102(1), the provision that actually grants shareholders rights. Given the legislature&#146;s proven
ability to reflect its intent to reference third party corporations in Section&nbsp;607.1102(2)(c), it
does not appear to be an oversight that a similar reference did not appear in Section&nbsp;607.1102(1)
and, instead, the likely scenario is the legislature simply did not intend such transactions to
require shareholder approval of such third parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Once it has been established that the Transaction is more appropriately governed by the merger
provisions of the FBCA, it must be determined whether these provisions themselves require
shareholder approval. With respect to the merger, Section&nbsp;607.1101 of the FBCA requires approval
only from those shareholders who hold shares in a company that is a party to the merger (as
contrasted against simply being a party to the governing merger agreement). Because the only
parties to the merger itself were Protalix Ltd. and Protalix Acquisition Co. Ltd., the Company&#146;s
wholly-owned Israeli subsidiary, shareholder approval by the Company&#146;s shareholders was not
required. Although the Company was not a party to the merger and, accordingly, was not required to
obtain approval from its shareholders, it provided the consideration paid to the Protalix Ltd.
shareholders &#151; namely, shares of the Company&#146;s common stock, which is permitted by the &#147;converted
into shares, rights, obligations or other securities of the surviving or any other corporation&#148;
language appearing in Sections&nbsp;607.1101 and 607.1106.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This is the statutory construction adopted by the court in Equity Group Holdings v. DMG. The
court in Equity Holdings was faced with a transaction, the facts of which are similar to the
structure of the Transaction. After the court conducted an analysis of the applicable
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Orthodontix, Inc.<BR>
January&nbsp;22, 2007<BR>
Page 6

</DIV>

<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">statutory provision, it concluded that the Florida legislature did not intend to grant voting
rights to the shareholders of a parent company within the context of a triangular merger. In
addition, precedent transactions involving Florida publicly-traded companies appear to be in
agreement with this interpretation.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To summarize, principles of statutory construction, applicable case law, commentary by legal
experts in the field of corporate law and precedent transactions provide that (a)&nbsp;the Transaction
does not constitute a &#147;share exchange&#148; governed by Section&nbsp;607.1102 of the FBCA but, more
appropriately, constitutes a triangular merger and (b)&nbsp;within the context of a triangular merger,
no shareholder approval rights are granted to the shareholders of the parent company. Accordingly,
it is our opinion that applicable Florida law does not require that any such approval be obtained
in order to authorize the Transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our discussion relates solely to the issue of whether consummation of the Transaction
constituted a Share Exchange governed by Section&nbsp;607.1102 of the Florida Business Corporation Act,
as in effect as of the date hereof (the &#147;FBCA&#148;) and, regardless of whether the Transaction is
governed by Section&nbsp;607.1102 of the FBCA, whether the Transaction required approval by holders of a
majority of the shares of outstanding common stock of the Company. Our discussion may not be
relied upon in any manner by any Person other than the addressee hereof, any successor or assignee
of any addressee (including successive assignees), the United States Securities and Exchange
Commission (collectively, the &#147;Reliance Parties&#148;), or by any Reliance Party for any other purpose.
This letter shall not be furnished to any Person other than a Reliance Party (or a Person
considering whether to become a Reliance Party), except as may be required of any Reliance Party by
applicable law or regulation or in accordance with any auditing or oversight function or request of
regulatory agencies to which a Reliance Party is subject.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Very truly yours,<br><BR>
GREENBERG TRAURIG, P.A.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">                  /s/ Jaret L. Davis
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Jaret L. Davis, Esq.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Authorized Signatory&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
