You start with an idea / licence / great pre-clinical results and do an IPO. - He did, well done.
The scientists develop the asset (s ). - They did and do. Well done.
More capital is required to take it to a point when big pharma will jump on - CRs announced and done. So far so good.
But here is the problem: With each data progress the sp should go along, of course there are always sp fluctuations and when markets turn risk off the sp falls more than it should be. But it is not ok when the market has turned back to risk on and CHM has more pipelines than at the IPO with stunning results and other bio comps are valued up to 20 x more for less and the chairman discounts again and again himself. That is showing a No Confidence in its own company - that is wrong, not healthy at all. He can throw in all of his millions but despite that he has sabotaged the company's finances and his own too.
His job is to keep CHM afloat, not sinking and hammering holes into the hull. But that is happening and is wrong. Why 0.8c? And the way it looks like he can't get any sophies on board, hence yesterday's emergency begging email " Steini - support me! ".
Market like discounts at Coles, not discounting companies. That's the difference and he should know that but does the opposite, No way that CHM will survive that way. Even if he gets $5m, next CR around the corner in 3 months. So far not one of the results has been used to raise at a higher price as it should be. But that's the model- increase data, increase price. Not increase data, lower the price!
Look in the textbooks, show me that his way is recommended! You won't find it as this is contrary to any business practice!!!
If he can't do better than 0.8c then he is the wrong person in charge, it is that simple. Others can, why can't he?
He "owns" the RAD and IMU board. If all is so great, why not using a 3 months loan from them as both got enough cash. No, he rather goes that demolishing way - why?
Wake up guys.
CHM Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
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