Ann: Trading Halt, page-51

My problem is with the strategic leadership of FBR. Let’s use the ribbon cutting Premier at FBR as an example. Why was the HX not used to build quarantine facilities around Australia or Government housing for the hopeless? What a marketing opportunity while in prototype stage, whilst providing funding for operations. It’s always been about revenue generation but the Pivacs have missed every opportunity to get Government funding to iron out bugs, provide jobs and grow and expand this countries manufacturing opportunities at a reduced cost to trusting shareholders. Honestly this has been an exercise in the failure of leadership at FBR. For $875k I expect strategic thinking, recognition and pursuit of opportunity and above all a drive to make it happen. As Guns and Roses so eloquently put it “What we have here is a failure to communicate” with (Governments that have deep pockets). If they were communicating then tell us and let the voters decide. Now we have further dilution due to sub optimal raise prices due to the inefficiency of management who have failed to capitalise on opportunities so clearly before them. Had they of done the above where would the share price have been today? Certainly not $0.02. Go binding or pay cuts, until then no cash from me. Mark is smart, but Mike needs to go until he starts to deliver. No point raising $4m when a quarter goes on director fees. Show us binding contracts, is that too much to ask? Did I mention the renumeration committee? Grellman is a shill, how the f, can these director fees be justified given the companies promises vs performance? Honestly this is a corporate shit show. The only redeeming feature is the reappointment of Nancy Milne as a Non Exec, but I’m not giving all that much weight to that at the moment, she may be there temporarily as is often the case with “family issues.” I think the tech has a place so I hold in hope but management needs to be replaced, Mark should stay, but Mike needs to earn his keep.

Just my two cents.