Member Info for Wbuffet999

Been watching this co from a distance for a while, looking to get into cancer and diagnostics still one of the biggest health tech areas. Couldn’t believe selling off the core assets of the business to focus on being a service business, really? Even if it works how valuable can it really become? Weak management team, calls for them to stand down/sacked are understandable and perhaps justified. Appear to be many better opportunities in the market currently.

Re good time to join, it’s probably true although Renken devastated the co, brought vast sp losses and massive dilution being private could give LVO the the space to deliver what R couldn’t. LVO comes from being COO and as I understand it the next phase is delivery of the automatic Proxima and US launch so about operations and R&D and he’s not coming with boasts of having a great track record of launching products that he didn’t deliver on. Hopefully he will go quietly about his business and deliver the product everyone wants, He has my best wishes not so much for the few pennies worth of shares I am left with but I think we all want to see a UK product like Proxima be successful.

Great, Rencken heading back home with his tail between his legs, about time! How the chairman could thank him for his achievements, vision and strategy when he demonstrated none beggars belief but I guess the legal guys are all over these type of announcements. I hope Van Os has got what it takes and I wish him all the best for the future.

Supposedly Trouton was a co-founder but he was never on the board so I guess a back room boy/techie. Perhaps had he been elevated to the board he would have survived along with the rest of the hordes of BoD members. Who knows? Best Sphere is shot of him making way for new blood. Next get rid of the CEO and half the BoD and the co might stand a chance. I still hold a few shares and it would be great if one day they realised their potentisl,

Great slip! Nads so much more appropriate than neds! Trout on was VP business development. No business developed in 10’years - I expect he was pushed and rightly so.

Only that the website has several removed names and pictures, Trouton is no longer there but they haven’t removed any of the BoD or useless CEO.

I meant doers but diets is probably what the skeleton staff are on now. The bid probably outnumber them!

.. who oversaw the destruction are ALL still there! Surely, the co needs diets not blind, incompetents?

Looks like emoyees have bitten the dust, but the CEO and board, who

To all you LTHs and believers in Proxima pity we didn’t have the management and BoD to make it happen. Hopefully W will world the axe over the incompetents and Sphere will prosper as a private co.

Renken and BoD completely destroyed shareholder value, right off the back of a fundraise with all the promises and nothing seems to have happened as a consequence. At leat Woodford had the decency to apologise!

All looks rosey, everything great, we made fantastic progress, we justify £200k salary on £30k sales. What a crowd of complete ........!

Just when you think this management and BoD can't get any worse, they pull something out of the bag. Complete and utter failure to deliver on their promises and then complete failure to communicate news that is of paramount importance to us pis. Frankly, they deserve all they get (other than the vast salaries of course!)

Hopefully, someone's got wind of management and BoD changes. As soon as I do I'll consider...

It does reiterate his patient capital approach and I suppose his putting more into Sphere does support that. Not sure about the rugby analogy, unless he kicks Renken and his team mates into touch!

Renken would have to go and most of the current board, univestable otherwise imho.

These shares are a bargain at this price but then thinking with this management and BoD who were telling how well it was going just months ago I am managing to resist. Perhaps if new improved management were announced, I could be tempted to a punt alongside Woodford.

It's tough but people will lose their jobs. Clearly, Renken should go and quite a few others if the savings are to be made. The BoD could be trimmed drastically Gregory and Mahle have been there throughout the debacle and the vp of business development clearly hasn't developed any business in all the years they've been there. Cutting these expensive, non-value add roles could make a big contribution to the savings leaving the workers time to deliver.

Can't help thinking if the old adage, better to invest in a good team with a bad product than a bad team with a good product. It's pretty unarguable that this is a bad team however good the Proxima is.

I always thought the ultimate commercial Proxima was automatic etc so that stacks up but I also thought that was the product they were going to develop with J&J. Sadly, this management/BoD lost that deal and seem to have struggled commercially ever since. As you suggest it's probably time for marching orders, the BoD members you mention Martyr etc have been there for sometime and Mahle and Gregory through the whole story. Woodford is likely best to start with a clean sheet and get a BoD management that can deliver. Doesn't leave much in the table for us PIs but perhaps delisting is the interim answer to give time and space it needs and to find new management.