BIT (ASX) Ann: Agreement with C14 Consulting Group

Originally posted by a2zz: ↑

Missing Information That Could Provide More Insight
While the announcement is optimistic, additional details would clarify C14’s capability and the likelihood of success:
Specific Case Studies or Examples: A more detailed track record of past successful partnerships or commercializations led by C14 would build confidence.
Timeline for Deliverables: The announcement does not specify how long it might take for C14 to secure partnerships or licensing deals.
Key Success Metrics: Specific goals or metrics that define success for the collaboration, such as the number of potential partners approached or agreements finalized, are absent.
Details on Market Demand: Insight into how BIT225 or Biotron’s platform aligns with current pharmaceutical trends and unmet needs would strengthen the case.
Financial Commitment: The project’s financial scope and how it compares to typical costs for similar commercialization strategies are not discussed.
Regulatory Progress: More details on BIT225’s clinical development stage and regulatory approval prospects would help assess its readiness for commercialization.

Why Outsource Commercialization to C14?
Outsourcing commercialization to C14 reflects the CEO's decision to leverage external expertise rather than attempting to handle the entire process internally. The reasons could include:
Specialized Expertise:
Commercialization, especially in the pharmaceutical sector, involves complex licensing, partnership negotiations, and understanding regulatory landscapes. C14 specializes in these areas, which may not align with the CEO’s skill set or the company's core competencies.
Efficiency and Network Leverage:
C14 brings established relationships with key players in the pharmaceutical industry. Building such a network from scratch would require significant time and resources.
Cost-Effectiveness:
Partnering with C14 could be a cost-effective approach compared to hiring full-time business development and legal teams, which would add permanent overhead.
Focus on Core Operations:
The CEO and internal team can concentrate on advancing Biotron's clinical programs and scientific research while C14 handles commercialization.
Concerns About CEO Accountability
The CEO’s decision to delegate significant responsibilities does not necessarily equate to inefficiency or inaction. However, shareholders and taxpayers funding Biotron deserve to see clear accountability and justification for this decision:
CEO's Role in Strategic Oversight:
While C14 manages the operational aspects of commercialization, the CEO remains responsible for overseeing C14's work, setting strategic directions, and ensuring alignment with the company’s goals.
Perceived Reduction in Tangible Output:
Critics may perceive outsourcing as reducing the CEO’s contribution to tangible deliverables like partnerships or licensing deals. This perception could lead to scrutiny over compensation levels.
Compensation and Performance Metrics:
If shareholders feel the CEO’s compensation is disproportionate to their tangible contributions, they may call for a review of the CEO’s pay structure to align it more closely with performance outcomes.
Should the CEO Be Paid Less?
Whether the CEO’s pay should be reduced depends on:
Clear Deliverables:
The CEO must demonstrate how their strategic decisions, such as outsourcing, add value to Biotron's commercialization efforts.
Performance Metrics:
Compensation should be tied to measurable outcomes, including successful partnerships, revenue generation, or regulatory milestones.
Shareholder Perception:
If shareholders believe the CEO is failing to deliver value, they may demand changes to either leadership or compensation structures.
Recommendations
To address shareholder concerns:
Enhance Transparency:
Regular updates on C14’s progress and how the CEO is actively contributing to these efforts would reassure stakeholders.
Define Measurable Goals:
The CEO’s compensation should be linked to specific, tangible outcomes, such as licensing agreements or revenue milestones.
Reassess Pay Structure:
If outsourcing reduces the CEO’s workload, a portion of their pay could be restructured to include more performance-based incentives.

Expand

There is only one reason why Biotron engaged the services of a consultancy agency, she knows 2025 will mark the end for the company as it will not comply with “ going concern “ criteria to stay a ASX listed company, so to prolong the gravy train ride for as long as possible she has used her final trick up her sleeve. They don’t deserve to be in business and I won’t feel sympathetic when the lot of them loose their “jobs”.

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Ann: Agreement with C14 Consulting Group, page-182

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