I really think that its high time that investors understand the underlying obligations which the board of prima biomed is under in regards to the nagging questions by shareholders to give more information in relation to the upcoming nasdaq listing dates- as shareholders I understand the frustration that must be surfacing watching prr drop some 14.43 % over its last 5 trading periods on the asx and there is the obvious reason that many have been selling out of their position on no new news being released regarding our american listing but the fact remains that this needs to be put into perspective-
What many have to bear in mind here is that we are attempting to crack into the largest electronic screen based equity securities trading market in the US. Due to the enormous investor base and the exclusive nature of NASDAQ it has to be noted that NASDAQ requires listed companies to meet stringent corporate governance standards in order to initially list on their market and continues this process with continuing stringent listing requirements once listed. If you dont believe me, I seriously suggest that you have a null over the following website which has taken up most of my afternoon- as I have tried to understand the NASDAQ market a little better- and let me tell you, its phenominal the criteria and continued governance which NASDAQ places on companies listing in their financial market.
I cannot stress enough the importance of reading through the strict guidlines which is placed by NASDAQ which makes the listing process for an organisation a very time consuming process. Of particular notice for those not having the time to read this huge document- may i suggest going directly to rules 5200-5210 to understand the process which is currently being conducted by the NASDAQ listing committee-
For those that have taken the time to actually read over parts of this process I hope the continual dissatisfaction and anger towards the board of Prima Biomed will be kept to a minimum as they have reported to market on numerous occassions that from their part- they have completed all they have to in order to file for a NASDAQ listing. As already stated, the required paperwork ( Form 20-F-Form) has already been lodged with the relevant US Securities Exchange Commission- which will be left up to the review by NASDAQ 's listing qualifications department-
I cannot stress enough the importance of understanding that the process of listing with NASDAQ is in part similar to applying for a mortgage or passport on a lower level. Once you have filed all documents and that information is sent for assesment- in most cases you will be unabLe to receive any feedback until the assesors have assesed your application with their final decision- unless you are contacted for further information.
Therefore, this is why the board of Prima Biomed cannot be held accountable for a delay in a NASDAQ listing date because they have filled all the necessary forms and documents required ( as per previous announcements) and they are in the same position as we are- just waiting for NASDAQ to come back with a final answer in regards to a listing date. So its fair time that we get off the cases of management because they have continuosly disclosed that exact information and yet many are still unhappy.
Whats commendable from an investor perspective is the fact that the board of prima biomed are not sitting idle just waiting for that final decision to come. MD Martin Rodgers has been phenominal in how he has been doing phenominal marketing to gain investor support prior to our NASDAQ listing. Dont under-estimate for one second the field work that has been conducted at conferences around the world to drum up investor support. Without the continual presentations completed since the NASDAQ listing announcement on 30/09/2011- im almost certain we would have already been in the teens by now with no news combined without the vigorous marketing- if you dont believe me, hows this for work effort since 30/09/11
- October 2011- MD Becker Vaccines Conference New York - Novemeber 2011- Thorough AGM Presentation Released - December 2011- Deutsche Bank BioFest Conference- atteneded by leading biotech companies-including key analysts-fund managers and institutions-(invited event) -December 2011-Successful Roadshows to brokers and investors in Australia - January 24-25 2011- The 8th Annual Bio Asia Conference- Tokyo Japan- Note from their website link at end of post- from their website (" pharmaceutical companies interested in research collaborations and licensing agreements") March 23-25- BIT Life Sciences Conference-Beijing
- PLEASE NOTE-For those that may not have seen the video of PRR's October 2010 MD Becker Vaccines Conference In New York, may i strongly suggest you download the following 13min link to help you with the decision on whether to hold or not- ( I understand that the pdf doc was released to the asx, but strongly suggest you view the actual video as its more informative than the pdf and I am somewhat disaapointed that prr didnt also release this to the asx for viewing)
Sorry for the long posting- but I feel it was well worth my time in attempting to hopefully keep the numerous un-informative posts badggering prr to a minimum- two final note before i allow you to enjoy this Australia Day-
Not sure if this has been aforementioned and if it has I apologise in advance but heres whats up for discussion which suggests that something of significance is brewing-
a) As announced to the ASX on Jan 10- Springtree will invest $1.25 million in convertible security-convertible on or before 29 March 2011- 90% of average VWAP's share during a specified period prior to the date of the conversion- Now for those a little more savy on the rules relating to this agreement- are springtree allowed to turnaround say tomorrow and say that they will wish to convert their securities using the 90% average VWAP share price for the previous 10 day trading period?? Or are the required to announce this before that trading period??
If they are allowed to use the previous VWAP'S average price- the recent downtrend in PRR could be springtree selling down a proportion of their shares to convert securities at a lower share price average- definantly makes sense from an experienced set of eyes
Date Last % Change Vol * 25 Jan 0.220 -2.22% 18,072,981 24 Jan 0.225 -2.17% 8,666,247 21 Jan 0.230 0% 7,167,092 20 Jan 0.230 -6.12% 11,854,109 19 Jan 0.245 -3.92% 19,246,272
Point 2-
Prima Biomed Announced to market on 10th January also- (from aforementioned link) their intention to terminate their convertible funding facility with New York Investment Fund Springtree Early literally 5 days after their JP Morgan Healthcare Conference and a month after their Deutsche and roadshows in Australia- definantly leads me to believe that a commitment by someone in those conference rooms spoke to the PRR board regarding a licencing partnership or a major investment in PRR-
The comment by Managing Director Marti Rodgers gives me more confidence that this could indeed be the case when he quoted on the termination that " prima is now in a position to broaden its investor base + is receiving increased interest from US Institutional Investors" Could JP Morgan be one of those interested parties- And if so, did they offer springtree newyork a sweetner, because why else would springtree waive the early termination fee- there definantly must be something in it for them to do so-
I strongly doubt that PRR would have terminated their funding agreement with Springtree unless an alternative funding option was firmly in place- Anyway- thats it for me to head to sunny ocean grove- hope this proved informative for the prr faithful and apologise for the lengthy post in reply- just prefer to be through than somewhat vague
ps- dont be surprised if theres an announcement before open tomorrow- but dont get to excited. It might not be the one we have all been waiting for, but wouldn't be suprised if their BIO Asian Conference Presentaton is released for some much needed interest-
1 women dying every 11 hours and we are in 2011 - just not good enough- with greed aside of wanting to make a lot of coin on prr- i really do hope CVAC comes through to lower this insane mortality rate and saves many lives-
(20min delay)