Agm24 Apr 2025 09:07
Was a very positive meeting about 30 people there and l would guess about 15 retail or private investors.
John very approachable and Karl yes going to be another 12 months before we see sales but expect news in the next couple of months John was adamant that they had to deliver results in the next few months, Adam left for genuine reasons but John would not work along side him and wanted to run the show so Adam left, his father did pass away shortly on his return to Australia.
The new team could have sold several crackers but they felt the conditions were not positive for the company so they refused wanting too pursue better terms and conditions.
A question was asked, what all the staff were doing the reply was staff numbers have been reduced slightly due to normal movements etc but many have moved over to take on different roles helping out on the cracker side of the business.
John and Garry Bullard both stated that their would not really be an issue with a fund raise and that could be achieved without to much dilution although, and also that there was little chance of a buy out.
I feel that John is determined to get sales over the line sooner than later and doing a great job, Mike spoke about the cracker they have quite a few large conglomerates knocking on the door looking and training staff on its uses just a 1% of potential sales would bring in millions and it’s likely to be far in excess of that 1% figure.
I know we’ve heard it all before but there really is a big change and a management that is going to deliver in the short term, I’m not selling and am happy to see results under johns leadership in the next 12 months he’s out to make it happen.