I think your commentary is way off. Richard had at the time a company making deal with Sonic, that I and many others, bought into because we thought this is the best pathway for revenue and capital growth. That partnership would allow Proteomics to solely focus on test development which is obviously their core business. Don't forget they are small Perth based company with a limited budget and team.
I believe Richard, knowing the deal with Sonic was on the verge of collapse, should've been searching around for a replacement before pulling the pin, so investors wouldn't get spooked with them leaving it and having nothing else to fill the void. Instead, he's gone down a path that is highly speculative and probably will take much longer for revenue to materialise. Don't forget I think he stated the labs can only do 85000 tests per year. That's hardly enough to light a fire under their share price, whereas Sonic, with its huge reach could've completed many more tests. This bravado, has allowed other likeminded tests to enter the US market, which are now direct competitors of Promarker D.
As, I stated previously Promarker D has a massive target audience, far larger than both Endo and Eso, and the revenue generated by this test could've allowed the company to try other strategies with their subsequent tests, but instead they've gone it alone, with the continual bait that this will open up partner pathways. Really? This decision is why the share price is where it is, and even after this announcement today, there has been little to no change in the share price and the amount of sellers has actually grown.
I, invested into this company because I thought their platform was cutting edge, and had a solid multinational partner to commercialise their test in the world's largest diabetic market. I literally thought it was fait accompli that this company was headed for stardom but, I unfortunately I failed to see that this management team weren't A grade. I should've learned, from past failures, where most times it's better to back an A grade management team over a company's proprietary or their mineral deposit.
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