RE: Update21 Sep 2017 11:18
One only has to look back at his history for his incompetence.
As mentioned previously, I met him and had a one on one at the beginning of June 2016 after the AGM/EGM. I asked the question regarding the agreement with Recordati since even I knew there must be some changes to it to reflect the change in can size and the loss of time. He agreed and told me that RPG were going to meet in the coming weeks to discuss it, although it would probably only be necessary to change the wording of the agreement (yes he did state that) . This is probably why he was expecting Recordati to fulfill the current agreement re the 6mill payment and hence the statement re the triggering and invoicing of the payment, which he was obviously confident would be paid.
I could never understand given the amount of time he had on his hands why he never approached Recordati before to start the wheels in motion. It just doesn't figure.
Furthermore, given that he mentioned there would be a need to revisit the agreement, it took until the end of Feb 2017 (some 8 month) before he even advised the market that the agreement would be revised. He had plenty of opportunities to make such a statement given the number of investors who approached him regarding "what has happened to the triggered milestone payment". I can only assume he was deliberately withholding this information from shareholders ..no ?
So, if his statement to me is correct and he did indeed start the ball rolling with Recordati a few weeks after our discussion, it has now taken well over a year to renegotiate. Now. I do understand such agreements can take a long time, but for me. This is totally unacceptable given that an agreement was already in place and as such most of the legal wording was already laid down. Surely all that was needed was to renegotiate the payments and a few sub clauses which considering JG has no leverage would have been agreed pretty sharpish.
I also repeat. I feel the 20 dose canister could have been launched a long time ago with the 6 or 12 dose canister following (just as what has happened recently with the UK launch) and the FDA approval, which probably we would have had by now. Think about it. They were meant to have had regular meetings with the FDA since EU approval 4 years ago, yet we will not have a product approved and ready for market till about 2020. That's what...... remind me....6 to 6.5 years after EU approval and with the 20 dose canister.......WTF.
So, as I mentioned before, I will not believe a word JG states or writes until I see something solid with my own eyes. i.e an announcement that the agreement has been signed off and RPG are in receipt of the milestone payment. Only then will I sleep soundly. I still have 100% faith in the product, but currently no faith in the people in RPG behind it.