RE: Hmmm28 Dec 2020 12:59
Many of those PI's that invested back in April/May heard CEO's words of 'sales in June' of our covid test when we'd got the Covid test CE approval. Then they were spun the DIVOC and Beckman links later in the summer and shortly after that came South African approval. Now it's 'supporting' Beckman in USA and the Covid POC carrots.
I know, DYOR, but I (and many others) did and based on everything available, this company should have been top of the pile with CE Covid, HCV (WHO prequal'd) and the near future AIHL in their arsenal.
PI's have held believing 'significant' and sizeable sales would naturally follow in what seen as 'target rich' markets, but no, not a bean.
On top of this, since early last summer there's also been the consistent erosion of the PI's value through placings, loan conversions, lack of significant sales in markets that we are approved for and general appalling communication with both PI's and the market in general.
Sure, have a placing but you must get the timing and and pricing right. Sure offer your II's loan conversions too, but this should be done when the sales are strong and you can take your PIs with you too and rather than to their detriment.
My holding has gone from 'x' amount of shares in approx 38million total to 'x' amount of shares in the company of 64million total and with a SP less than 50% of their cost too - not exactly inspiring confidence and trust in the BOD!
The CEO may come across ok in his presentations (if somewhat evasive on sales and approvals) and things may well be going on in the background, but while there's a perception of BOD picking up sizeable salaries and bonuses without returning PI value too, I can fully understand investors being anxious or angry at what seems a dreadfully performing company.
I dunno about a 'Budd express', it's more like Ivor The Engine on the sidings at the moment. Let's hope this gets on the right track soon....
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