Money was raised — thanks were given — to enable the management. But is the management not responsible for the difficult times? Yes, they are.
They remained silent and failed to raise funds at the appropriate time, despite clearly knowing that the cryptic “commercialisation exercise” with C14 would drag on indefinitely. C14 appears to be a vehicle for consuming company funds while operating under the radar — essentially serving to sustain executive positions, not deliver outcomes.
From November 2024 to the upcoming November 2025 — it’s been silence to silence. No updates. No clarity. No meaningful progress is likely to come.
Their occasional communication is worse than silence. If they can’t provide substance, then silence at least saves shareholders from further disappointment. But it raises the obvious question: how do they justify their business hours and executive salaries year after year? This could serve as a research case study for universities — investigating how executives in public listed companies manage to get paid consistently without producing measurable labour, intellectual output, or communication.
We need systems to detect this behaviour early — to prevent shareholders’ and taxpayers’ money from being wiped out like tissue paper.
The regulatory framework is deeply flawed. There is a dangerous absence of oversight to track, audit, and hold executives and Boards of Directors accountable. This allows governance to be quietly engineered in favour of insiders, while shareholder interests are sidelined and value is destroyed — all under the nose of ineffective regulators.
Biotron has received nearly $70 million over the years. At one stage, Peter Gausas gave birth to what seemed like a phenomenal event— generating excitement and interest in Biotron’s future. But that optimism has not been fulfilled. Instead, the path he initiated has been mishandled by the current leadership, dragging the company into deeper opacity and dysfunction. In hindsight, even Peter’s campaign raised expectations that now look dangerously overhyped — and unfortunately, laid the groundwork for what’s turning into one of Biotron’s most disappointing chapters.
Money was not raised just for management to remain silent, write another letter about possible voluntary administration, and threaten winding up the company.
If winding up was ever a real option, then why raise funds with such hype and confidence? We were told the trials were “fully funded” and repeatedly teased with phrases like “coming weeks,” “holy grail,” and “good progress.” It was all marketing — now exposed as deeply misleading.
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