It's a rogue operation for now and you only have to read the 2016 AR on pages 54-63, to further understand OBJ's current position in their Corporate Governance Statement:
http://www.asx.com.au/asxpdf/20160913/pdf/43b50yy75904fx.pdf
Imo the BOD has until the end of this year to finally put up on all the promises over the years and don't even bother arguing with me Attitudes . How could the Wave I device really be considered the release of a product to trigger a Performance Milestone, when it was a soft launch with no revenue. The only revenue seen was the issue of the performance shares for the BOD.
It is one thing to only be answerable to themselves as the company floats through an ambiguous growth phase, but eventually the BOD will receive more and more angst from their Shareholders if they don't start coming good on past promises. 3 years ago the BOD got paid in shares and then went on market to sell them straight away. Tick Tock, it's time for the BOD to materialise some Shareholder wealth creation instead of the share-price break-down we have witnessed over the last 3 years.
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