Hi all My notes on today’s AGM All objectives to enable the...

Hi all

My notes on today’s AGM

• All objectives to enable the “Deal” have been completed no barriers are in the way.
• The NY investment bank engaged to broker the deal has commenced proceedings.
• Meetings are held weekly with the Bank including one scheduled for tonight.
• The chosen investment bank is a big player in this space.
• Very few if any ASX biotech companies would have access to this type of investment bank.
• Only paid on results.
• There is nothing close in the global market that matches the pericoach and the now collected data they have.
• Big players like Google and Apple could be potentially interested due to the health data analytics they have collected.
• Board has instructed that all options are on the table e.g global licensing deal for both products or total sale of company.
• Deals typically take 3-6 months to achieve, but that is not a definitive timeframe for this.
• Dr Peter Corr is the man to get the best deal possible for all share holders. Other ASX boards are envious of who is now on the ALT board.
• Next six months will be the most exciting in the companies history according to Geoff.
• Past barriers for the sale of the auto start may be on the turn  as a the distribution company has been bought out by a major US company and could now package the auto start with pumps for example which has been a problem to date with competitors.
• Gladstone Hosptal now using the product. Good feed back to date and some other hospitals in NSW.
• pericoach on the cusp of being approved for other conditions.

Other interesting tidbits

• Director fees have not increased in 5 years
• CEO has not had a payrise in 7.
• All ALT staff and board travel economy class
• No concern about 3 billion shares on register. Chair could do a consolidation tomorrow if he wanted.
• Have enough cash till to last next year and options due early next. R & D tax refund is still available also.
• Chair said the extended placement voted on would unlikely ever be required and is there to enable the deal.
• Lots of questions asked by share holders.
• Mood was positive and not hostile.
• Chair acknowledged long term holders  and the fact that little return has been seen.
• Pericoach has cost 25 million to bring to market and has taken 10 years.
• Chair believes share holders will be smiling in the near future.
• Next six months will be telling, the chair said this may be the last AGM.
• Chair would like to prove ASX wrong.
• The board is aware of hot copper and this forum.
• The meeting ended with a round of applause.

I have attended a few of these meeting now and left feeling quiet positive about the potential for 2018.