Ann: Annual General Meeting Presentations, page-110

Tech,
Thanks so much for your expansive reply, very good of you, then again you are a communicator, so I would imagine you enjoyed this greatly.

So, we both on an even footing, I assume you are retired and dabbled in shares for 45 years, hopefully with lots of success. My 35 years are based upon working in financial services, funds management and advisory, with a number of quals in related fields, in short I do it professionally and still do, so I am still working in these fields. Your reference to researching management, is exactly why I am NOT an advocate of LDN, lets stick to fact, he has had one meaningful deal which took place decades ago. So not exactly, stellar. I invested in BRN way before it was this ticker code and under a different skillset of managers and had a good understanding of the techs capability. Lets turn this around, if we had a more up to speed and capable management team, perhaps we would not have burned so much cash, we would not have endured so many free and cheap shares handed out to management and some better value related raisings and less dilution for long suffering shareholders. eg. LDN's latest brainwave of raising shares @ 3c-beggers belief!
I rate BRN as a buy, as I believe in the tech and have stated on many occasions and as you put it, "on the record" that hopefully the tech will prevail and our management will "fall over" a deal, hopefully more than one. Buy rating is based on potential upside and this particular stock beckons significant upside, particularly as AKIDA comes to fruition. Again, I wonder what the timelines would look like and the value of the stock, with more competent and savvy management?? As far as LDN is concerned and the BOD, I feel their style and conduct is lacking on many fronts, lets leave capability out of it and concentrate of why they refuse to communicate consistently with shareholders and the market, which I believe leads to criticism and confusion, which leads to assumptions of wrongdoing and so on. I feel LDN is a poor communicator, which is not a good trait in a leader. LDN has made a number of statements about potential deals and sales, that have not come to fruition and when challenged, seems to come up with excuses or perhaps ignores the questions. I don't have the time to cover them all off, but to my memory there would 8-10 occasions, where this has happened and he continues to get away with not cover off to shareholders the detail surrounding his statements, let alone cover off for the market in general(there are ASX rules). Given LDN's performance to date, it is a challenge to believe anything he says, it is an even bigger challenge to get detail. Vagueness, just doesn't cut it. That is his record, lets hope there is improvement. Just can't believe that shareholders would tolerate this, worst of all the BOD, as it is there responsibility!
AS for LDN work ethic, who knows, lets be frank, you don't either. I trust his work ethic is good, but is it effective, you know why work hard when you can work smart. Whetrher he is hard or smart, I truly do not know and neither do you. Again, this is up to the BOD, which again I feel has let us all down, as they just seem on the face of it to be dominated by him, almost like the tail wagging the dog! On the face of it, I feel the BOD is weak for the record! I hope I am wrong, but that is what I see and is my opinion.
As far as PVDM & AM and their team of researchers, once again this is why I am still involved and have been for several years, as I believe in them and their team, unfortunately, BRN has demonstrated over several years to be poorly led in the management dept. Perhaps, due to the lack of clarity, details and fact in their communication. Lets hope, this is all in the past, for all our sakes. In my mind and informed opinion BRN is an outstanding company from the viewpoint of upside, due to their innovation and tech, but if the management cannot get companies to engage and look at it, how can a sale occur??
In summary, this is a forum, where everyone should have the right to express their views, with respect and hopefully deliver value. My number 1 priority is return. I care little for he said she said, its a waste of time. BRN has been held back by the performance of it's management, again in my opinion and the BOD has failed to act to maximise value to shareholders, over and over again. Money has been disgustingly wasted over many years, chasing pipedreams, all because management has gone in the wrong direction. The outstanding example was the trigger of shares for LDN by getting a deal of minimum $500000, remember? The deal never eventuated in truth, but the BOD stood idly by and in fact were complicit with handing over the shares. You say LDN is a salesperson, well he may well be and perhaps a good one, as in my view he done a "job" on the BOD and the shareholders, the market however is not swallowing it, he had his opportunity when the shares were hovering around 20c and have been on a constant slide mostly, ever since. I ask anyone, should BRN ever be at 3c or 4c, given the tech?
I get annoyed, only because I see lost opportunity and waste over a long period of time, which LDN & BOD get rewarded and paid for, while we watch our hard earned go down in value. Finally Tech, you sound like an intelligent and well-meaning individual, who in my minds sees some thing through "rose-coloured" glasses on occasion. I hope you and every other BRN shareholder gets rightly rewarded for their patience. Which to my mind would happen quicker and ass greater value with better quality management.
Perhaps, yourself and every other holder should ask themselves, one question, based on the quality of the tech and that of the team that run BRN-Why has LDN or any member of the BOD not once and ever bought a single share with their own money???? Perhaps LDN could tell us?
I find it bewildering, as it demonstrates faith in his own ability and company, apart from the potential monetary gains!
All the very best to you and GLTA