esra ogru background, page-15

Grrrrr.....I am feeling truly peeved and gutted today. If these claims in the Australian are true Dr Ogru will have executed one of the most spectacular Swan Dives off the Pedestal of Integrity & Ethical Decency this industry has ever seen. Spectacular for its height and speed but.....not for the bellyflop splash that has diminished our POH Pool of funds and credibility.

Short term POH will be on the nose . So yes some more pain for long termers.....however I believe this will be a shortlived fiasco once the dust settles. It will certainly truly test the skills of Harry and POHs Board in the coming weeks. I suspect when the titilating details are revealed of how and where the monies have gone , POH might actually be seen as the victim- its certainly not the architect of these goings on....and when POH clarifies how much it can claw back we can restart our year and get back to business.

Looking forward ( and presuming Esra is a goner) The Board must be decisive in recruiting a new CEO after a wide reaching search to obtain someone with an impressive track record of commercialising a blockbuster Biotech, someone that can fill the figurehead vacuum left by Dr Orgru. (Theyll also need to budget more than a $300k salary package for somebody worthwhile! )

Further if POH can show clear clinical and commercial progress in the coming weeks, this ugly matter will be behind us soon enough and POH back on track. Can Harry claw back the stolen funds either from sale of assets or perhaps a claim against the Auditors ( who must be choking on their weetbix this morning). An extra 3-5 mill in the bank would be a nice offset to the crap we have suffered this week in the year that holds such promise