'When the business becomes cash flow positive and is sustainable, I will usually step down and let others take the entity on. I am also normally a shareholder in each entity.'
Does anybody know if this is new commentary on Glyn's Linkedin page or has recently been changed along with the photo or why there is absolutely no mention of OBJ in his CV considering he has been with OBJ for over a decade now? Let's hope the above is an omen that OBJ are about to become 'cash flow positive and sustainable'.
Edessa, I agree that Glyn has played a part in getting OBJ to where they are fundamentally today (credit where credit is due as you say) but he also has to take some form of responsibility for where OBJ's share-price sits today. It is also worth noting that in today's announcement it bizarrely omits any reference of thanks for the contributions that Glyn has indeed made to OBJ over the years which is typically standard and common courtesy in these types of announcements; which imo could infer some kind of internal dissent or perhaps Glyn taking one for the team due to Shareholder unhappiness over an extended period of time.
The Milestone 2 explanation sounds dubious and imo could possibly be for two reasons - Either the BOD was attempting to sneak it through (similar to the last AGM BOD share debacle) on the premise Wave II contains ETP (if Matt's email is to be believed) and thought we would all miss that it was in 'Beauty & Grooming' and is contrary to the original Milestone parameters set out in 2014; or it is to do with Personalisation and P&G are not kosher with divulging the current status of the Personalisation program to their competitors yet. The optimist in me wants to believe the latter, but once again Shareholders are left with crumbs instead of facts. If the BOD is indeed being a martyr by inferring that Milestone 2 has already vested but they will not be issued to the the BOD for whatever currently unknown reason (perhaps in order to appease P&G), then they may have grounds to appeal to Shareholders down the track for doing the right thing to maintain the status quo with P&G; but ultimately imo it still means the BOD would have missed that particular Milestone deadline for whatever reason as they have had 3 years to fulfill it and work out the finer details with P&G anyway.
Kiwidub, in relation to this article posted by Vic1861:
IMO I agree with smac that they are not implying this is a Phase III clinical study. Rather this will be the third clinical study, as they are using the same tech as Bodyguard for which we already know there has been two studies. Whether or not OBJ are combining the 'microarray hydrogel hybrid technology' with a Micro-needle patch would no doubt be kept highly secretive and would obviously be the desired outcome and in line with the Microneedle patch patent from 3 years ago that Jase has high-lighted many times. In the words of Glyn and Jeff, take what journalists write with a pinch of salt as the BOD have absolutely no control over their 'poetic license'.:
'OBJ’s interest in clinically testing its microarray hydrogel hybrid technology, initially developed for the BodyGuard project, was encouraged by a major US pharmaceutical manufacturer (“Manufacturer”) of IBU treatments for consumer pain management. The Manufacturer does not currently have a topical analgesic product and is interested in the enhanced performance possibilities the OBJ technology has the potential to deliver.'
If we are to believe what is written, the program partner is US based 'a major US pharmaceutical manufacturer' and in OBJ's recent update they advised 'The Manufacturer does not currently have a topical analgesic product and is interested in the enhanced performance possibilities the OBJ technology has the potential to deliver.' This narrows down the potential US Pharmaceutical Manufacturing candidates.
It was nice to catch up again with Jase, Kiwidub and meet SDJungswirth and Jonty on Tuesday night. The discussions were robust. My personal feeling is that OBJ's share-price will continue to languish until they can prove up significant revenues and/or successfully sign up a second major or three like Pfizer, J&J & RB etc for Pharmaceutical applications.
Thank you to everybody who offered encouragement in relation to my Mum's illness. Unfortunately Mum passed away 2 weeks ago. Although Mum chose the alternative route where there are many thousands of successful global testimonials; the alternative route works best when you are dealing with a minority tumor rather than a majority. With Mum, the Neurosurgen who operated originally advised he had taken 80% of the tumor; where in actual fact we found out six weeks after Mum's operation that he only took 40%. Mum's tumor pre operation was the size of a tennis ball in the centre of her right temporal lobe and six weeks after the operation the MRI showed it had aggressively grown back to more than two tennis balls and was most likely more than three tennis balls when she passed. I'm a spiritual entity but not religious, so in the end I prayed to the universe for the first time in a long time that Mum wouldn't suffer and would pass gently and quickly. It was an often surreal experience where my only concern was to ensure that Mum was comfortable, had everything that she needed or wanted and that her final wishes were respected on every level. It was an absolute privilege to spend the last 4 months with Mum and one that will assist in shaping a better version of myself.
OBJ Price at posting:
4.6¢ Sentiment: Hold Disclosure: Held
(20min delay)