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6.2¢ imagion biosystems limited

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Lilow

9,194 Posts.

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21/05/20

09:29

Post #: 44741821
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Originally posted by MickeyMantle536 ↑

Mr Proulx’s salary is $400k and the CFO is $209k and then there are 5 other non executive Directors. Mr Proulx holds 987,000 shares and only bought $2,820 in the rights issue so I agree with your comments. These two factors combined do not provide any motivation to push the program ahead rapidly. The current quarter has a budget of $1.7 million and it’s nearly the end of May. These are not insignificant expenses and so the timing of trials is critically important from a MC and cash flow point of view.

I like the technology but I don’t live in a bubble either and I’ve seen plenty of good ideas or good projects fail to launch because of management. The company has extended the timeframes for in-human testing for 3 years since the IPO and until I see an ASX announcement that qualifies this then I’m going to rely on the most recent news from the company which indicates next year.

Someone mentioned above that Mr Proulx stated late last year that in-human trials were going to commence mid-2020. This is just another example and I think it’s quite reasonable for investors to ask Mr Proulx to qualify this in an official announcement.

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So I will ask you again as you did not respond, why are you still holding this stock???

IBX Price at posting: 2.6¢ Sentiment: Buy Disclosure: Held
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