Member Info for bignose58

Since there has still not been any update on the gov website since the 10th May (nearly 12 weeks ago), does this indicate they are having problems recruiting ???

Bunion,

That's correct. All the shares wont hit the market at the same time, but it will eventually be 17.5mill usd worth at 0.215 (including the 4% interest shares).

According to the convertible notes announcement the company has already been lent 5.5mill usd and they still have the ATO settlement sum of 6.73 mill USD to pay, which I am sure will not come out of the already loaned monies since huge salaries still need to be paid as well as the continued FDA approval process and all office costs etc. If that is the case, the shares could be as much as 12.23million USDs worth which adds up to about 17.5% dilution. Anyway, we will soon find out if this is the case.

I really don't understand why anyone would be buying now with all the new shares that will be hitting the market ? are Brokers being so unprofessional as to not advise those buying to wait till the **** hits the fan ??? Or is it just a case of who gives a fcuk, "Hand us your money"....... :-O

Although only about ED, the below discussion does reflec the same issues associated with PE:

PDE5is have certainly helped break down the taboo around erectile dysfunction – at least in the US. In the US, direct to consumer advertising of Cialis and Viagra over a number of years has increased awareness of the condition and broken down barriers to discussing it. It’s no accident that around 50-60% of the ED market is in the US.
It’s a different story in the UK. We had a very interesting meeting with a sexual therapist here who said that the attitudes in the UK towards erectile dysfunction are almost Victorian (seems to be the same in Europe too). It’s not ‘manly’ to want to seek help. It’s a more difficult prejudice to break down in this market.
Also, if you look at the researchers, the key opinion leaders and the pharma workers in this area, you’ll see that there are very few women involved in the discussion. One of the growing fields within sexual medicine is female sex, and it’s also a problem for the female if the male can’t perform as the women feel unattractive and inadequate. In some cases it can have a devastating effect on a partnership or marriage. We’re trying to get a much better understanding of that, and look at this as something that doesn’t just impact the male in a relationship.

One would think that ED would have already broken down barriers with respect to discussing other Sexual problems, although it certainly appears not to. I guess its easier to discuss if a man has or hasn't wood as appose to "the horse has already bolted from the gate"... ;-)

As I previously speculated. Without the main shareholders who are involved in the placing, just under 1.6% of the company voted FOR. I wonder who they were ? I would guess a few of the remaining BOD and company employees (instructed to vote or start looking for a job).

Hopefully it will stop when it reaches 0.215, but then again.... As there is nothing to offer shareholders old or new, it could just go lower. JG should be ashamed of himself. And the BOD should be removed for recommending his 1.5million USD salary, although he is certainly doing a good job in lowering shareholder value.......Wait a minute....Maybe that's why he is being paid so much. I mean all he has done is reduced the companies value since the PLE takeover.

Headless chickens come to mind......lol.

Doesn’t anyone find it strange that Yooya were an e-commerce company and as such RPG would need further investment in CBD companies, yet now we are told whilst in discussions with Yooya, they were presented with a more exciting opportunity involving the hemp sector in China, with a particular focus on hemp CBD infused products. But isn’t that what they would need to be getting involved with anyway to enable them to use Yooya ?

These last announcement are certainly full of BS and many twists and turns and the usual vagueness. Do they actually know what they are doing ? This time, there is not one person, including Dr Mike, who has any knowledge on the subject, yet they are capable of making these decisions.........it seems to me that they have seen business articles on CBD with projections and are just trying to jump on the wagon full of “we want a piece of that” although we know nothing about it. Well just BS and hope this one pays off.....Will this be another DBC ?

The.Italian

What I find of interest is the fact they suddenly have an alternative, but concrete solution, yet no information to shareholders as required until now. That's highly impossible. They must have been in discussions with another party many weeks ago, yet nothing until now. Makes one wonder why ? Are they once again being over zealous to try and keep the SP up in preparation for the Dilution, it surely wont look good if the SP drops further before the EGM vote. Interesting that although volumes are low, there are many sells around the 10k share mark which could indicate that there is some manipulation going on. Granted there are a few larger sells, but why so many 10k's one after another. Makes no sense unless there are many Chinese who have invested in 10 of shares.....LOL.

No news on Orient and no news on Recordati....... why ?

Firstly I'd like to ask. what about Orient and HK/Macau. surely those two launches are much further along than either the FDA or the China syndrome or even a new acquisition ?

Matt,
The start of the phase 2 was delayed from July until Dec, but if that delay is anything to go by. (JG informed the market and later me by email after I noticed the FDA gov website was indicating still no recruiting in August, that all was on schedule). An utter BS response with no knowledge of what was going on since it was then delayed till Dec.

I'm not sure about the new route. My understanding was that at least Yooya would not just be limiting itself to China, whereas this update indicates the new company will be in China, yet all my research so far has indicated that although China is one of the worlds largest industrial producers of Hemp, they still have not approved CBD for medical use. Please correct me if I am wrong. Unless they are only looking to China to supply Hemp ?
https://en.wikipedia.org/wiki/Cannabis_in_China

I assume it wont be too long before Mr "know it all" responds to the FDA update. Anyone want to have guess as to how long before he posts again with his narcistic views ? My guess is within the next hour or 2.... ;-)

Keith,
You have certainly got that right "flying by the seat of their pants". RPG/Recordarti evidently have not done one piece of market research and taken it for granted that 1 in 4 male sufferers = lots of sales. How is it they had not even heard about the 2006 German study made on exactly the subject. Did they all deliberately ignore this ? It must have been discussed and readily available in the right circles which RPG and Recordati would have been involved in. If known, they had plenty of time to make preparations before launches. They surely would then not be making such statements as "disappointing", but instead "as expected". A disasters that could have been prepared and actioned against if managed by true professionals.

Although volumes are low, its interesting that there are some investors who are still buying even with the prospect of dilution in the next couple of weeks. Obviously just gambling traders who jump in without reviewing available documentation. I guess there are many small private traders who work this way.

Kieth.
I'm of the view that the reason there is no news before the content of the nterims is that it will only be bad, otherwise why not bolster the SP before the vote on dilution? I also feel that given how badly sales have been in the E5 and the UK, Recordati will not throw away any more money on launches, they will wait for the US launch which MAY provide worldwide publicity if it takes off, but that's a big IF. And if it doesn't, Recordati will bin it.

As to HK and Macau. 15000 is only about 1.5% of the male population, so they are not expecting to sell many. Makes one wonder why orient bothered to sign on the dotted line. It also makes one wonder why they even bothered to obtain import licenses. Some, myself included, speculated that maybe it was to aid in the China approval, however. I now realise that it was probably just to create some local stock liquidity since business wise, management don't have a clue.

But Keith, everyone, apart from 2 voters, approved of his remuneration, so you cannot really complain about it.

The.Italian
Thanks for your interpretation. RPG certainly does appear to be changing track regarding the companies focus. Obviously no mention of Dr Mike even if he is the Scientific officer. Seems all this may be beyond him or is he just being ignored.

Don't forget that RPG should be receiving 4mill USD dorrars (Asian currency......lol) as a result of the Chinese application for the approval stated to be submitted in H2. I guess it takes all this time to translate the boxes of EU documentation into Chinese ? That's assuming its all in track, which from experience we know RPG never keeps to. Keep ur eyes n ears open for the word "delay" in upcoming announcements.

Whoops sorry....... looks like I'd be over paying JG...too. I meant 1/3rd. His salary should be reduced by 2/3rds................. ;-)

The.Italian,

I think everybody is fully aware that the money is needed. However, in my view if the CEO and BOD had been business savvy, which they are obviously not, we probably would not be in the position we are in today. The proof is in the pudding. They invested 3mill squid of shareholders money in the DBC only to write it off as a 2.74 million loss in less than 3 years. A good % of the money being created will be given to the CEO, but for what ? As stated before, the BOD and CEO need to be changed to more competent people. They may be very good at advising on mineral investments, but have not one clue on business strategy/management, in the field we are now in. They have had their chance and have only managed to F it up. Just think, if they had applied for the FDA using the 20 dose can size to begin with following the EU approval, we would probably have had FDA approval by today. Of course its all in the past, but it is an indication of how the company is being mismanaged through their own greed which never comes to fruition, apart from the highly inflated salary which is continuously and irrespectively paid. In the 5 years that the CEO has been running PLE/RPG (ignoring anything before his involvement in PLE) he has been paid nigh on 7.5mill USD where in my mind he should have received only 2/3 of that. And now he is loaning that money back to the company to be paid interest over the duration which will be a lot more if there is any increase in SP since the 4% interest is pre-paid in the form of additional shares.

How long is this going to continue ? There are many if's regarding the company making a profit in the future and as you stated, what money do they have to invest in the CBD ? What happened to the allusion that the legacy mineral investments were set aside to pay for the AT bill ?

Shareholders should be provided with a lot more information on the way forward than what is vaguely given in the announcements since we are the ones signing off or abstaining on the money needed to pay JG's inflated and in my opinion undeserved salary.

So has any other shareholder been contacted to Subscribe ? According to the circular they have tried really hard to contact shareholders.

To the best of the Directors’ knowledge, information and belief and having made all reasonable enquiries, no other Shareholder has a material interest in the Subscription Agreements and no other Shareholder will be required to abstain from voting on such resolutions at the Extraordinary General Meeting.

And remember,:
Given their interests held in the Subscription Agreements and the issuance of Convertible Notes thereunder, James Mellon (and Galloway), Jamie Gibson, David Church, Anderson Whamond (and MAC Financial Pension Trustees Ltd) and Jayne Sutcliffe (being a member of the Declared Concert Party Group) (and their respective associates) will be required to abstain from voting in respect of the proposed resolutions to be presented at the Extraordinary General Meeting approving the Subscription Agreements and the transactions contemplated thereunder.

Surely if they want voters to approve this, they should be more forthcoming in what the money is to be used for or at least provide an update as to the current expectations / company progress.

Keith,

It would appear that shareholders are in approval of JG being paid 1.5million USD, otherwise they would have voted against it in the recent AGM, wouldn't they ?

Bothwell,
Very nice of you to cut n paste all that from the announcements, unfortunately most now understand that the content of the announcements are not worth the paper they are printed on, apart from the bits on the worth that is/will be taken away from private investors (which will eventually lead to 40% once the Yooya RTO goes through). Amazing that JG will be loaning the company money with interest just so it can be given back to him. He might just as well not contribute, pay himself and take all the shares for nothing. It would certainly save a lot of paperwork.

Given the disaster that is happening with regard to European sales and Recordati now taking a step back by not following up on the advertised launch dates (I wonder if the two countries to be launched later this year will actually happen). Will they eventually step away and give up. There certainly doesn't appear to be enough incentive from sales for them to continue.

As to the FDA. There may be DTC advertising, but given the slow uptake in Europe, who is to say the stigma attached wont be the same in the states as there has been no market research regarding this. RPG/Recordati obviously did next to no market research in preparation of the European launch, but chose to go on the fact that if there are 1 in 4 sufferers, they must surely be able to sell to 1 in 4, otherwise better preparation and forward planning would have been done.

Whats happened to HK/Macau ? Its been a few years since the importation license was applied for and now 7 months since Orient have taken responsibility. How difficult is it to get a few cans produced and distributed ? Whats happened to the Middle East and Latin American licenses? They have been working on them since 2014 yet we now have a China agreement which was not even in the picture back then, but apparently has no market value and yet still nothing more on the others. What does that tell us of what the Middle East and Latin America feel about the product ?.

Apparently shareholders will now only get an update in the content of the interims which are not due till the end of August.

Jam on the bottom is the Cornish way. Cream on the bottom is the Devonshire way.

You must have mentioned your old fishing exploits to your kids for them to badger you......wait for it.......wait for it.....You made a "rod for your own back"........... sorry, just couldn't resist it.......

Yup cream teas....Scones and Devonshire clotted cream with a spoon of jam on top....yums.