Ann: Investor webinar, page-34

"............... I would have to give that Presentation a solid 8 from 10................"

Howdy NZT - can totally understand your scoring 8 out of 10 for that presentation - honesty and unambiguous explanations alone would pretty much get that score. Personally I am prepared to be a little more critical in hopefully a positive way - if only to show Steini I can at least attempt to be objective.

Points raised and covered were absolutely refreshing and confirmed what many have suspected - that there was in some way or other an expected CR that fell over or was interrupted ultimately leading to or even perhaps caused by the auditors covering their butt and not signing off on the annual report. That did not come about over night so there would have been lots of to and fro conversations. In any case management was placed with having to scramble to put sufficient funds together to satisfy the auditors. Right or wrong, good or bad, that is where we are. Personally I, as one of the great diluted, am not interested in blame or fault. Cant change yesterday so lets move on. Rebecca as COO is obviously taking the same positive approach.

Other points such as likely need to raise capital in the future etc come as statements of the bleedin' bluddy obvious so again no points deducted for any of them.

Comes down more to how some things were said or, not said (including the honesty for being concerned re switching to and from the video recording - who has not feared that within a presentation) to this audience of punters (as distinct from science nerds). I suggest that success in this bio arena of punters is not about the technicalities of the science but rather how we the great unwashed perceive how that science WHEN rather than IF (yes I do know the regs on what can and cant be said) will be rolled out; i.e. the less than scientific story if you like.
The abridged version being, this is our new starting point. We are in a rebuilding phase and remain both confident and absolutely resolute in achieving positive outcomes for both the science and our shareholders. We have 3 potential blockbuster drugs in development. Due to current fiscal limitations we are forced to chose a main contender for now however will certainly be continuing development of the other 2 as we progress. This is how we intend to progress development and this is the real opportunity we are pursuing - pushing the envelope in describing market potential opportunities and outcomes. Dont ask for money +/or support - set the story so as to inspire rather than apologize - not arrogantly but from a perspective of outright confidence as to the plan going forward - (the basic cornerstone of change management - set the strategic direction ans sell it) Suggest Rebecca and the scaled back team have that confidence and that is what they have to sell. In reality I would not know or understand good science if it cured me but I can recognize and become an advocate of skilled people who can rightly demonstrate they have a legitimate pathway forward - who can develop and sell their vision.
History shows us an average product in the hands of the best people will generally succeed over a great product in the hands of those with less ability to develop and deliver outcomes. In this particular instance there appears to be the potential for one or more great products being developed by a very worthy team/s.
I concede others prefer to judge by yesterdays events and that can be legitimate however in doing so suggest there is often temptation to adopt and substantiate through primarily subjective arguments derived from past circumstances. Absolutely a case of perception becomes reality, often leading to a self fulfilling prophecy. There is a saying that rock climbers, in order to get to the top must have the courage to let go of the hold they have behind / below them.
In the case of CHM, my personal take away is, this latest presentation has been intended to signal the demarcation point for change - For Rebecca to clearly declare she is now in the drivers seat, will be the one in the market place driving the vision and outcomes of her teams objectives. That message in this presentation may have been a little too subtle for some and so for that reason I gave it a 7.5 out of 10 - room for improvement but a great start.
Without intending to ramp, I sincerely hope our weary band of punters can be inspired, if not to throw bouquets at least to put down the brick bats and give this new team the opportunity to move forward.