esra ogru background, page-22

Bad news sells better than good news and it doesn’t get much worse than this.

It is also understood that her suspension stemmed from "prima facie evidence" of her alleged involvement in the irregular transactions, rather than any management oversight that might have contributed to the losses.

There is little doubt, however, that the scandal couldn't have come at a worse time for Phosphagenics, which is widely known for its Elixia and BioElixia skincare ranges that include an anti-cellulite cream whose hero ingredient happens to be the same peptide at the centre of the Essendon Football Club doping scandal.

-- some investors are concerned about the possible reputational damage to the company when it is in the process of seeking commercial arrangements with larger pharmaceutical companies. .

One fund manager, who declined to speak on the record, said it was natural that questions about the company's financial management would flow on to include questions about the scientific merits of its projects. .

One analyst said the company's board would also be called on to explain how the irregular transactions could have occurred. .

Its unusual management structure also might come under questioning. .

Stockbrokers Bell Potter and RBS Morgans have both suspended coverage of the company pending the outcome of the investigation. .

I doubt the Australian would make these statements without some proof or vetting of sources. The previous Australian article claims Bell Potter has the amount of missing funds at 3-5mil.

Short term fallout on the share price has occurred and may well get worse over time.

It is so hard to fathom why a high paid CEO that has helped grow the company and a vested interest in its growth and success would bite the hand that feeds it and think she could get away with it for perpetuity. She also holds 5.87mil shares and 2mil rights. (Should the milestones associated with the Rights be achieved Dr Ogru will be entitled to exercise the Rights
and be issued with one new ordinary share for each Right exercised)

Enough of the negatives, what positives can we garner from this?

Harry Rosen is back at the Helm and has a fantastic track record with his previous company Betatene.

Not only may some of the funds be recovered but it may be that since there are missing funds and shortfalls, previous sales may have been better than thought?

A new and more capable CEO will be appointed to move the company forward with future negotiations re TPM products.

The company still has 14.1 Mil + the next Tax break installment approx. 3 Mil

POH still has the science, the patents, and deals currently in progress and the future deals in the pipeline. Major Pharma will do deals regardless of a rogue CEO that has been put out to pasture IMO.

One or two years down the track this will most likely be well behind POH as it moves forward with strong income streams from its future projects.

A final comment re the Australian reference to the peptides (probably minute quantities) in a rub on cream compared to Essendon ingesting peptides that induce Human Growth Hormone production. What the F***! Seems like a very long bow to draw and muckraking. Does anyone have any comments re this?