Ann: Result of Placement, page-2

Well that did not go down well, they only got a little over half of what they intended. The investors must have thought the same as me, which is, did they send the presentation off to a school kid to make to save costs.

This company needs to grow up and start being commercial. The presentation again lacked any detail that would allow someone to invest. They just gave away the rights to QCide to a company (STK) that can take advantage of it far better than BGT but there is no real mention on the financial impact of this anywhere, I can assure you that as an investor I would say given the way BGT operate they may get 10% of that market and STK the other 90% based on the sales skills they shoewed in the presentation.

They mention the huge TAM of 31B but completely fail to say what portion of that they could get as royalties or they believe they could get, they fail to segment what would use QCide and what would use Flavocide, they fail to mention what the difference between the two are and what royalties differences there could be, worse in prior communications they say there will be a very small royalty. Then for the kicker they say that registration is years away.

Essentially investors are given a very uncertain picture and outlook. The stock is very illiquid and will stay that way until there is a product that is saleable, so once you buy in you have to stay or take a large loss. The negative thing for shareholders here is that management have failed to build any value in the business for the entire time it has been around.

This is still being treated like a science project rather than a business. If they had raised enough to finish the registration as they SHOULD HAVE then investors could say I will invest as I am not going to be diluted again and again going forward before commercialisation.


Upvote if you agree so that management might actually pay attention.