RE: Board Of Directors- Coms3 Jul 2024 13:31
I wrote the following this am:
To: psargent@physiomics.co.uk, info@physiomics.co.uk
Dear Sir, Peter ( if I may ) Can I preface my email by stating that I founded PYC not David Fell... I gave him some shares and employed his services. From a start that needed financial backing to take a proof of concept - The movement of E Coli along food gradients in silico to a commercially viable business, the market was at the time the best place to raise money. I believe we left the company in good hands and with a very realistic prospect of it becoming a leader in the sector moving to personalised medicine.
Twenty years later it is still looking to the market, cap in hand for crumbs from the financial table an annual occurrence as the company still trades in a quasi academic fashion relying on the support of shareholders to survive.
This year is an all time low as Long Term Shareholders of which I am one are effectively replaced /diluted by new investors who will never be Long Term Holders just short term profit takers-Day Traders. Can you imagine the insult? not forgetting the financial loss, perhaps not as you don't actually subscribe for shares or as a consequence of your actions watch the share price fall away.
Enough is enough! When are you as CEO going to manage the business in such a way that it actually makes money...3 conferences and no updates Biostats Division and no updates.
There should be mergers/ acquisitions/ Profit and Royalty sharing with clients. An elevation of the profile not just heads down until we run out of money. An whole raft of companies have set up long after PYC and whilst they frequently lack the knowledge base established at PYC out perform you as they are more creative in thought and presentation.
I should add that the debacle surrounding Christophe left me speechless. I am aware of the problem and just how long it took to "resolve". Incidentally the original contracts for PYC were quite specifically detailed as PYC owning rights to all intellectual property developed by an employee whilst in PYC's employ It was a Contract of Employment and a Contract that was binding.
I will not hold my breathe for a response I haven't received one despite a number of offers of help.