Well, What an interesting week it has been for LBT. We have had the most anticipated and important announcement made
signing on Thermo Fisher for US distribution. As wells as the Kate's resignation.
I'd like to say I found it of note that when we got the Thermo Annoucement, share price opened at 15c only to close at 14c, now ending the week at 12.5c. It obviously shows that the market doesn't think to seem that the management is fit for the commercialisation of the job, and I don't think we can argue with the rest of the market.
To be frank I also believe that the board has little faith in the company, I and many others have brought up before that BB is the only board member to have over 1 million shares.
The 2 new memeber haven't as of yet purchased any shares, which usually I'd say that's okay BUT we have Arkell and Lismore whos have been on the board for a little while now. Arkell still to this day has 0 shares, after ~ 24 months and have only heard excuses as to why that is the case being that he has difficulties with a broker... for 24 months. I mean come on, surely you'd get a new one if you want to demonstrate your worth to the shareholders. The board's constitution stipulates that directors are required to have a certain amount of shares which Lismore has (though Lismore has the minimum amount).
So I've been thinking, thinking too much - What value to LBT has Lismore and Arkell provided the company (I'm excluding BB this one time as many times members has discussed his performance). I can't see the value they've added, we are sitting roughly the same price since they joined the board. We did get above 23c, though also saw the share diluted and the price go to 8c. We haven't seen any KPIs in regards to revenue being set and met which could be a reason why we have signed on one of the largest companies in the largest markets have little affect on the SP. I foresee a 2nd Strike and I believe these 2 heads will roll without a doubt, BB could closely follow. It's really the definition of a lifestyle for Arkell and Lismore, with no skin in the game.
We are ~ 3 weeks away before the AGM notice, I doubt we will really see any SP jump to our last cap raise (16c). We would need sales to slide on in which there is no guidance from the board on. In particularly in the US, with no targets outlined to the market what so ever. I know posters here have stated that we are in the best position possible for LBT as a business and I agree. I think we are in one of the worst management positions for LBT though.
- How are new investors seriously going to look at this company, listening to the board about the potential and how set up the company is for great success where the board as a collective has 503,974 share which were purchased with their own money?
- Why has the company only been able to manage a handful of sales over a few years?
- Why are long term shareholders frustrated with the current Board?
- Why is the sales cycle/pipeline so long?
These are the questions I'm asking myself as an attempt to reason with why the SP is at 12.5c. It's these questions which I believe are making the market hesitant to buy in. Should be an interesting AGM to say the least.
(20min delay)
