RE: Now on my way home..1 Jul 2022 09:42
@ OB
OB, great question. I went to bed little early yesterday as I had a very eventful day here. I used to work near Liverpool Street. City has its buzz. It’s a great place and I loved every minute I was there.
I’m not a biotech guy but I do understand business. The mindset is very different from running an AIM company to a private company. This is why its so important that the CEO/BOD own shares in the company they work for on AIM.
So, what will I do different? Knowing me I would have actually done this. Initial time frame was two months and TX asked for 3 months extension. The war started on 20th February. They had a decent time to get the funds plus the market was peaking in December/January. So, the market was good. I would have checked their progress and if I was happy with the progress then I would given them the first extension. But I would have asked them to update me after 6 weeks so I know what is happening. Not after 3 months!
When they asked for the 2nd extension then if Suzy/Kevin had a good business mind, their alarm bells should start ring. I would have asked for a monthly zoom call to keep me updated as my cash flow was running low. Suzy should be watching her bank balance on daily basis. I guess as her company is not generating any income then at least on a weekly basis. But I don’t think she bothers until she has to make a payment i.e salary. I check my bank accounts every morning! It should be your score board if you run a private company. She has nothing to loss plus a safety net i.e shareholders. If I saw any reason that they were not going to make it then I would have done a placing much early.
Her running to the brokers office tells me she is clueless and reckless. Maybe she was stuck in a dreamland and then one day she released that she didn’t have the money to pay the bills so she panicked. What is Kevin doing?
I think we need a voice on the board if we want anything to change. The same people will produce the same results. Why should they change now that they have £2.5 million in the bank? Once you take an easy way out then you will gravitate towards that. We need someone to represent the shareholders interest on the board.
I say it how it is not how I think it should be. We should judge her from her RESULTS! and nothing else.
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