Originally posted by blurrt
Experiments replicated (Odds on Unilever) with significant success. Now that's what I want to hear!
Really?!?!? Jase, Blurrt, AMG, am I the only one here who doesn't have amnesia? Can we please stop with the 'Wow, this is new information', polarised interpretation. Most of this information we already knew and was from previous Management and not current Management. Check it out for yourself:
https://www.asx.com.au/asxpdf/20180131/pdf/43r6xvyvxjnypz.pdf
https://www.asx.com.au/asxpdf/20180309/pdf/43s9g0vyprxd8x.pdf
https://www.asx.com.au/asxpdf/20180430/pdf/43tlmpjv8m7v84.pdf
The main piece of new information in the OBJ 2018 Appendix 4E is the disclosure that OBJ's 'potential' use for Surface Hygiene has moved from the UK to India to continue 'exploration work' and the fact that Surface Hygiene will now experience more delays due to the following: 'The two teams met again during the March quarter, at which time OBJ was informed that theSurface Hygiene exploration work would be moved to the partner’s new facility in
India, and that some
delays may occur as this new facility familiarises themselves with the OBJ technology.'
Everything still appears to be 'potential' and in slow motion. Surface Hygiene began in 2014 when the Patent was lodged and was claimed as all other programs as 'quick-to-market' as opposed to MicroArray Pharmaceutical. Nothing, no program or Technology Platform has been 'quick-to-market.
This 2018 Appendix 4E is not new, apart from the obvious word 'India' for Surface Hygiene and this one piece of new information implies more delays. It is simply an update of the last 12 months progress or lack thereof; in one neat little report that includes the word 'India' and highlights the fact that once again OBJ are NOT Cash-flow Positive as alluded again and this whole 'cash-flow positive' scenario would be better off left alone by new Management, considering they are still way off and now 12 months behind schedule.
I'm not even going to highlight the list of 'potential' partnerships that have been peddled to Shareholders over the last decade that simply disappear into thin air once money is raised, never to be mentioned again. Beware imo. Small Caps like OBJ need to have a buffer in the bank and with just over 4 million left and currently still burning 2 million dollars a year (which has just increased with additional BoD members), I don't see any other option but for OBJ to raise capital again and within the next 12 months. Even with 4 new products on the way, we know from past history that Shareholders won't see tangible dollars for at least 9 months after launch and there is a very good chance that any launches will be 'soft' launches to begin with. Unless Pfizer, Unilver, Nitto Denko or someone else step up to the plate with an upfront, imo OBJ are going to now need money and history always attests that they come to Shareholders with colourful verbatim and potentiality.
And before you all sharpen the guillotine for my gorgeous head, I will most likely participate if they have the sense to add some free options this time around. Everything in me says NO to participation, but the chances are if we don't, we may lose our capital. Nothing like a captive market.........and plenty of time to weigh up the pros & cons. I'm sure the likes of Surges and others will agree. The way it all currently sits, I just can't see OBJ let our bank balance fall to 2 million dollars in 12 months time as it places OBJ in an inferior bargaining position for new partnerships and sets a vulnerable persona that new OBJ Management will no doubt want to avoid.
(20min delay)