RE: Elderly Bird9 Mar 2023 15:37
It would appear from the adverse comments that there is, rightly, growing dissatisfaction with the lack of progress of this company – despite the incredible product it has produced.
Clearly the fault may lie with the direction given, by the Board of Directors, to the executive management.
From the company’s web-site, the information there claims that Angle plc has a clear strategy to commercialise its Parsortix® technology. This would indicate that Board direction has been given to executive management.
So, what is that strategy?
Setting aside the brief description of the product, its successful evaluation in major cancer research centres, and the FDA clearance, all of which are laudable past achievements, there is nothing in the strategy to enthuse investors, or promote hope in cancer patients.
The undertaking of further pilot and patient studies in developing the technology into potential new areas is to be expected, once initial commercial success has been achieved. Then the effort and expense can be justified on the basis of continually increasing the size and income of the company, and therefore the value of a shareholder’s investment.
There is nothing in the strategy that provides direction to company executives to focus on generating cash-flows from current achievement. Such cash flows provide future working capital, increases the ability to raise further capital, if needed, and demonstrates to shareholders the wisdom of their investment decision.
It is not the key opinion leader and peer reviewed publications that will provide the cash flows generated by purchases of the Parsortix® system! It will be the demand by patients, who are aware that there is a better solution to cancer detection than a painful and invasive biopsy!
Where in the strategy do Angle plc tell the World that there is a better alternative in cancer detection and treatment? How does Angle plc intend to make Parsortix® synonymous with cancer detection as Hoover did with vacuuming
So why has the Board of Directors not focused on commercialisation and the generation of cash flow – it is not mentioned in the current publicly available strategy.
The current board of directors has 7 members 5 of whom are non-executives. Non executives are charged with preserving the interests of shareholders by holding the executive too account.
Perusal of the web-site biographies of the Board of Directors indicates that there is a worthwhile amount of experience, and expertise, at Board level, sufficient to make this company fly – that it has a world-beating solution in cancer detection with the potential of much more to come.
Either the non-executives are failing in their duties or cannot function properly, possibly being in awe of the CEO and, or, the Finance Director, or for some other reason?
I look forward to a proper focus, by the Board of Directors, on generating cash flow in the very near future.
Otherwise, it will have to be considered a
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