Ann: Notice of Annual General Meeting/Proxy Form , page-112

re: Ann: Notice of Annual General Meeting/Pro... Well if nothing else there is some passion back on OBJ threads...

...here's some quotes from this thread that resonate in my head (and remembering jta's recent post about EPO approval which is very significant news)

falchion -
"The Company is seeking a mandate to issue securities under the Additional 10% Placement Facility to enable the Company to pursue its growth strategy with the flexibility to act quickly as potential business opportunities arise".
"Hopefully not at the speed of previous potential business opportunities. "

amg -
"I'd say if they want the shareholders vote they'd better show us more than what they have this year. This is really getting quite concerning now"

jta -
"I suspect they are anticipating a point in the foreseeable future where the share price will be significantly higher ... at which point there will be a share issue to raise the capital they might need for the in-house progam"

Pman -
"convince me Glyn on all three resolutions"

Surges -
"Companies are at the brink of going belly up if they raise at 0.2.
This can go still both ways but as a long term OBJ SH I'm concerned at this point in time that the PNO/ OBJ axis linked through Jeff plans to raise cash to keep one afloat by tapping the other."

hoofa -
"Its does seem that it is a company run by those that have a skill at creating technical possibilities with no capacity whatsoever to take it to the next stage of commercialization."

greenhouse -
"My Sentiment as Surges quoted "This does not have my support and I will vote accordingly, provided that I do not see more information forthcoming until AGM."
But Hey, Transperency would be nice without the smoke and mirrors approach.............?"

Baz -
"Well this caused a sh*tstorm didn't it. They should just have an extra box on the voting form 'no to all the above' to save some ticking time. But the really pathetic aspect is that all of this could have been avoided by simply communicating."

Sth -
"I suspect the tangled web between OBJ/PNO occurs primarily through the consultancies from MLPH ($100k+) and PNO ($750k) and not offices etc. Money blurs lines and creates some interesting conflicts of interest.One would be whether any OBJ Directors have received any consultancy fees from PNO and how this potential conflict of interest will be handled. The second would be the figure for tax offsets versus partner funding."

Barra -
"Also, maybe the threat of an in house product is part of their negotiations strategy, when dealing with the large corps....ie, "we are not desperate, as we have an internal income stream happening, and therefore these are our terms.."

hewy -
"How many times can you re-issue options? ;)"

jarrody -
"Seems the company r not confident the oppies will be in the money, else they would just hold off on the cap raise and use oppie funds"

maka -
"I'm not sure this extra placement request is a bonafide confirmation that they plan on issuing a placement in the next 12 months."

Baz -
"Hope they're reading these posts, since despite all the higher education abounding, some of the so-called softer skills wouldn't go amiss."

abdm -
"In regards to PNO, people need to read fine print - The short fall was significant, as was expected, but the real question is, why is the Chairman so keen to own over 10% of the company in 2012?"

hoof -
"HC is a gossip tabloid, no more no less.
Treat it as amusement and your investment will take on a different perspective."

dou2 -
"so what you are telling me is those that took up the last issue at 2.3 cents are now in deep doodoo's or underwater ?"

cmk -
"But remember you only crystalise a loss if you sell - more patience is required here - not panic selling"

gbr -
"We call them discontinuous items we're developing, we said you'll see things over within a year over the year and we're obviously, I'm not going to tell you what they are right now because then “our competitors would know as well” ” (Bob McDonald Chairman, President and CEO – P&G)

If P&G are not prepared to tell their shareholders what they are about to bring to market, how can you expect OBJ to tell “its” shareholders what it is working on & who it is working with. Again we are at the mercy of the partners we are partnering with."

Pman -
"I think the board is doing more damage than good with these announcements (more info should be presented to stop the speculation). We do not need detail, as of course this is sensitive, but a general plan/intention laid out. Not, we will see what happens. How hard is that to do."

Westhx -
" However, with their partner activity and inhouse activity there is a an overall story that is not being effectively communicated to the market. This remains my biggest criticism and they need to improve."

falchion -
"I recently read the AGM of another biotech that used case studies to illustrate how timelines can be pushed way beyond expectation, due to the partner companies. It was a good use of communication to talk about time frame delays without giving away confidentiality."

hoof -
"somebody is going to make some serious money here in a very short space of time..."

maka -
"hoofa, you sound like the type who would still be calling full steam ahead if the administrators were called in. It would be an honour to have you by my side in the trenches."

ahpigsy -
"Reminds me of the Black Knight in Monty Python and the Holly Grail, bleeding from the shoulder less 1 arm. It's only a flesh wound."

chooky -
"What else is there really to say at the moment,$3.2 mil odd in there BANK."

bsw -
"I think it was only a month ago I pointed out they would do a CR, however the only issue here is that it's not for the reason I was hoping for."

kramark -
"dont mean to insult but looking at the chart....
in sept 2008 this did drop below the 1c mark, dwelled there for nearly a year the rose over the following 5 months to over 6c. "

1S1 -
"If obj was to link with pno,jp senior or any of its products,I think it would be a disaster and spell the end of obj,or at least see the sp fall to the pno price over time."

abdm -
"Q: Do you believe that the company needs to raise any capital based on its current cash burn rate?"

opel -
"You truly are a beacon of light (hope) in a sea of insanity"

abdm -
"No one can fault a preparatory action, but I would still encourage you to grab a calculator, and give a little more thought to what you might be thinking. Raise a little bit of lunch money, and deplete cash resources without any idea of when/if big brother will come to the party... and how were we going to fund these internal development programs again?"

maka -
"To be honest abdm, I've really lost interest in these long-winded copy-n-paste posts. They don't clear things up for me, they just make things more confusing,"
(editors comment - that's a bit disrespectful maka)

Surges -
"The much more realistic option is the fact that OBJ and PNO do indeed plan to raise funds to finance their own pain patch development independent from the globals ( this explains the massive underwriting by JP, CEO of PNO and his recent purchase for 150K in shares ).

I have to say that recent events have little to do with the desired rerate of OBJ on the heels of licence deals with partners but rather with old habits of pumped share prices surrounding CRs returning. I'm disappointed with these developments and understand mak to have lightened his load a little. I might do something similar to an extend."

Surges -
"The simultaneous action on both stocks of Jeff surrounding one CR and anticipating the other by preparing the way to be voted on at the AGM leaves me little leeway to view this differently."

amg -
"Management doing a CR to develop their own patch is suicide indeed and borderline stupidity."

abdm -
" Now why would any company commission a report from Bell Potter, and then decide not to present it to the shareholders...?"
(editors comment -look out abdm that other tribe will be gunnin' for ya)

Surges -
" What makes me most suspicious is the market action which is currently unfolding for PNO and OBJ. This market action, which reeks of manipulation, combined with our own patch program leading the progress reports within all developments, does raise the question what plans management will pursue in the short term."

Sth -
" don’t think so. One relatively large trader, proportionate to typical volumes, gets excited and wants to leave his mark on the days trading. This movement sets the flock into motion.

My comment. Great conversations have been had on this thread - thankyou.

bluebush