It is in the company's interests to get as much news flow out there as possible, so yes I expect to see most if not all of which you mentioned.
On this note, after reflecting on this Thursday's AGM resolutions, I have to decided to vote for change. If someone had asked me after the non-dilutive finance deal was signed, I probably would have voted YES for all resolutions, but that was 7 months ago.
Having both our clinical trials fully funded approaching a period of news flow should have been a lift off point for a major share price re-rate. I'm talking 10 cents plus, which would still only be a very realistic market capital of 22 million. At the very minimum, we should be 5 cents plus, which is only 11 million in market cap.
Yet the share price is around the same level since that time and daily turnover strongly suggests the stock's potential and word of the non-dilutive financing deal remain almost completely unknown.
Management have let holders down with promoting the company to the investment community. This much seems obvious.
Secondly, I feel frustrated by the lack of follow up news to build momentum. The company needs to appreciate it is fighting against 2,000 plus other companies for scarce investment dollars, and the best way to achieve this is to attract investors and meet or exceed their expectations of news flow.
The market has spoken, and I'm not going to disagree. Directors Dr Ron Wise and Tony Fitzgerald are new, so they are excluded from the discussion here and both come in highly recommended. The chair Sean Williams, on the other hand, has been in the position since July 2021. That's well over 3 years and during this time progress has been sparse and the share price has gone backwards.
So have his own option trigger hurdles, too. He started at 20 cents option with a 2026 expiry that shifted to 15 cents with a 2027 expiry.
Now we are being asked to vote on lowering the bar again to 12 cents and push them a further year out to 2028. This is the opposite of progress.
I thought business is about hitting stated targets, not lowering them.
Somebody needs to take responsibility for the lack of progress and the company's failure to resonate with the market. The buck stops with the Chair. He has had over 3 years at the helm, which is more than enough time for the market to decide.
For the reasons above, I believe we are grossly undervalued and we need change starting at the top.
FWIW, here are my votes:
Resolution 1: Remuneration report: AGAINST
Resolution 2: Appointment of Dr Ron Wise: FOR
Resolution 3: Appointment of Tony Fitzgerald: FOR
Resolution 4: Re-appointment of Sean Williams: AGAINST
Resolution 5: Extra 10% placement: AGAINST
Resolution 6: Employee incentive plan: FOR
Resolution 7: Shares in lieu of wages Sean Williams: AGAINST
Resolution 8: Shares in lieu of wages Dr Ron Wise: FOR
Resolution 9: Shares in lieu of wages Tony Fitzgerald: FOR
Resolution 10: Sean Williams 12 cents options: AGAINST
Resolution 11: Dr Ron Wise 12 cents options: FOR
Resolution 10: Tony Fitzgerald 12 cents options: FOR
Not telling others how to vote. Just my opinion it's time to see the company noticeably lift its game in several key areas to ignite the market's interest and lift the share price into a very achievable double figures.
Whichever way you choose to vote, don't forget you need to get your votes in online by this Tuesday 4pm, May 27th at the Automic Online Voting Portal (
Investor) if you can't attend Thursday's meeting (
Webinar Registration - Zoom).
GLTAH
