Ann: Appendix 4D & Half Year Report, page-7

Howdy 10bagga.
............ - talk about mismanagement! .............
sorry but bit confused - is your handle about achieving 10 times earnings or simply bagging out a company 10 times greater than anyone else ?

Seriously, this report just reconfirmed that :
1."Recruitment is going as expected .... dogshave begun(and some havecompleted) treatment." (testing not shut down so cant be negative).
2. "Trial data release will occur when a clear and meaningful trend is apparent." (suggest this allows extended #'s to be justified in testing)
3. "PharmAust has now submitted the MPL human trial paper for publication in a peer review journal." - (part of the required initial steps).
4. "In anticipation of progress towards further human studies, " - (suggest they would / could not make this statement at this time if dog trials are now not looking positive !!)
5. "PharmAustwill also conduct a third GMP monepantel tablet program in Quarter 2 of 2020 to cater for future human trials" - ( again shows real confidence in moving forward.)
6. "Cash and cash equivalents plus Trade and other receivables = $3,894,890 less current cash creditors $3,307529 basically cash at bank" - Would appear on past spending that they have enough cash to be able to make sure they are able to continue dog trials to a satisfactory point, and / or could pull the trigger at an earlier than totally preferred date if required and still have a good outcome - or could even use test indicators to borrow short term funds. ie I personally dont see the need for a near term CR to get them to the next stage.

If these direct extracts from their report are correct then I am just not sure how you could level the accusation of poor management. Happy to invest in another ten of this standard thanks - but all just in my personal opinion and reading of material supplied so certainly no investment advice however I did consider whether I should change sentiment from hold to buy before posting