Appologies to those wanting to ask why Bob hasn't been fired haha.
Hi there,
Please find eight questions below to be addressed at the AGM tomorrow. These questions are from myself, and a few other shareholders who are unable to attend the meeting. I have taken the liberty to paraphrase, proof and shorten some of the questions. However, I have left some of the emotive language in several questions as I feel it is relevant.
1. An independent (non-exec) chair is fundamental to good corporate governance, improving performance and accountability of the management team and reducing the potential for critical conflicts of interest. It is also a required feature for many institutions to invest in a company. Does the BOD plan to appoint an independent chair? If so, when? If not, why not?
2. Recent company announcements have had a high degree of ambiguity, where more questions are raised than answered; and shareholders are left looking for hidden messages and attempting to read between the lines. Is there a current effort to improve shareholder communications and engagement? If so, what does this entail?
3. Why has the news flow dried up since Nov 2020? There have been few price sensitive announcements in 18 months. Shareholders were led to believe that there was more going on in the background which would lead to further news flow. Aside from the new facility, is there anything news-worthy on the horizon?
4. Why haven't any directors bought shares on-market? Even a modest purchase would give shareholders some degree of confidence that the company is heading in the right direction. At ~4c do they see the shares as good value? Or do they see their company as too risky an investment, or over-valued?
5. In light of the protracted phase 1 clinical trial: is the BOD/management confident in their ability to expedite the anticipated follow-on pivotal trial? What are some of the key trial design features shareholders could expect for a pivotal trial? Are preparations for a pivotal trial already underway?
6. Why are retail shareholders treated like mushrooms and not properly kept abreast of developments? Many investors bought in Nov/Dec 2020 on the basis that a 10-15 person trial was underway. Now, 18 months later, the trial is still incomplete and shareholders have been fobbed off or misled as to progress. The market has not been properly informed of the delays and the absence of incentives.Make no mistake: IBX treats its retail shareholders as cannon fodder.
7. Of the patients that have completed the trial, why can't the investigators/BOD tell us whether they can detect the cancer?
8. Is the collaboration with MD Anderson ongoing? If so, can we expect new pre-clinical trial results to be announced this year?
It would be great if the board could make the time to address all of these questions.
Kind regards
(20min delay)