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Ann: Notification regarding unquoted securities - NUH, page-171

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ElleBee

956 Posts.

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07/11/24

16:44

Post #: 76503446
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Originally posted by the trickster: ↑

No, I don't believe Ron and IR misled me, I know they misled me because Ron and IR were misled themselves.
I conveyed what Ron told me which is what Miller told him.
Miller is a liar , and no I am not concerned about defamation as I have enough documentation on Miller , I would welcome it. He would not dare step into a court. He also got his gofer Peter Nesveda to lie for him to investors notwithstanding Nesveda did his own version of spreading BS to investors.
Miller told Ron that every Walmart store would be stocked and that it would all be invoiced upfront. The reality was that Walmart were running a distribution drop model instead. And it emerged in the October investor briefing where Miller could not even articulate clearly what was going on. When I confronted Miller about this he played semantics with words and the meaning of POS which apparently now has different meanings to how it was used previously.
Miller also lied about the commercial agreement with RealTek. During late 2022 and early 2023 Miller explicitly stated that the commercial agreement was being negotiated and when executed he would disclose it. His language then changed during 2023 to state that "the details of the agreement cannot be disclosed nor discussed and that it was commercial in confidence" I and a number of shareholders asked Miller during investor briefings the question and that is how he responded. During the Sept 2023 investor briefing in Sydney where Miller disclosed that there were 3 OEMs that were under negotiation with one which was very well progressed, he was again asked the question where he replied the same. The implication being that there was an agreement in place. Earlier this year in a phone call to Miller I again asked this question , and he again answered thaht he cannot discuss the terms of the agreement because its "commercial in confidence"
Yet in August 2024 when he put the company into VA he explicitly stated that the commercial agreement had not been executed. In otherwords it could not be a case of "commercial in confidence" as there was no agreement in place, at best it was still under negotiation.
He needed to advise the market that negotiations were still ongoing not that the agreement cannot be discussed because its "commercial in confidence". It is misleading to state what he was stating.
We have since learned from RealTek's affidavit that the chip was not completed until May 2024.
Now we have the issue of Miller making representations about OEM negotiations and some being "well progressed" and even previewing the 4 gen product at the Automic investor conference in Dec 2024 where statements at the conference were made that the 4 gen would be launced at the 2024 Las Vegas CES in jan. But without a completed chip and a executed commercial supply agreement what Miller was showing people at the Automic conference was not the 4 gen product but effectively a prototype of the 4 gen product which is also why at the CES he was doing "showings" under NDA conditions. When I asked why he was "showing" and not launching he played semantics with what the words mean and then later I was told by Ron that the FDA application had not been lodged so they could not launch. Yes, the FDA is a valid reason but they could not launch any version of the 4gen (fda or non fda) because the chip was not complete nor was there a supply agreement. What they were doing was demonstrating a prototype.
Miller needed to be honest with shareholders and the market instead he continued to mislead by ommision , not having a commercial agreement and a completed chip completely changes the context of any conversations regarding OEMs or the 4 gen product.
Likewise with Walmart, he needed to be honest as to what sales model Walmart were adopting and not lead people to believe that the product would be stock across all their stores and orders iinvoiced upfront. NUH doesnt have control on how walmart choses to sell, but that is no excuse in ommitting key information which changes the whole context of the Walmart deal.
There is a litany of this type of behaviour from Miller, he wont be sleeping easy, once this situation gets resolved one way or another, I suspect quite a few people will have Miller lined up in their sights. It would be very fitting if Miller loses everything. And then there is ASIC who are looking for a good scalp.

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It appears you weren’t able to distinguish between discussions and aspirations as opposed to deals and agreements/contracts. All you had to do was read the ASX announcements to know what was actually occurring in the business as opposed to best case scenarios you were confusing as foregone conclusions. Of course this was all pointed out to you but you knew better apparently. Oh well.

NUH Price at posting: 8.1¢ Sentiment: None Disclosure: Not Held
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