Hard to argue with that.

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bushturkey

750 Posts.

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13/05/24

12:03

Post #: 73794956
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Originally posted by Jukebox45: ↑

Hi Zach;

Nothing in your assessment is fundamentally wrong, but you haven't factored in one important impediment:

Cinnabon.

The cold hard reality is, Bruce Maluish has been a ham-fisted, truth-distorting, two-dimensional, Manager of this junior start up.

His arrogance, unwillingness to transparently communicate with shareholders, and amaturish handling of company finance in recent times, would give the market little if any confidence that he has the discipline and intelligence to lead this company to profitable production.

His preparedness to pay himself an outrageous salary BEFORE we have reached production shows contempt for all of us who have contributed to the company's finance coffers.

The latest debacle with fund raising demonstrates his total lack of commercial nouse. A fully underwritten CR that had a get out clause that could be so easily played? That just reeked of desperation.

And let's not forget the second-to-latest fund raiser (the one at 12c!!!!) where the market was so frightened off, it closed under-subscribed.

Not too many people want to admit it, but right now we are on a knife edge of losing our investment. VRX are not allowed to trade whilst insolvent, so if we cannot refil our coffers until EPA approval is granted, the company risks going down.

Whilst I am biased because of my investment, I look at the BoD's performance over the last 24 months and have very little confidence these people have the ability to manage this venture into profitability (if it gets up).

The lack of communication, the lack of transparency when it is needed, and the lack of honesty around own-goals, to me are the hallmarks of toxic management. I would not want to work with these people, and in global region where "face" and integrity have such a high non-cash value, I cannot see this leadership team earning or retaining the respect of prospective customers.

Even if we see the share price rise to previous highs, we will be weighed down for years to come by holders like myself who will be shedding large portions of their portfolio at strategic exit points along the way, having lost faith that the present VRX team can unlock anywhere near the potential values we all thought we had invested in.

YMMV, of course.

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Hard to argue with that.

VRX Price at posting: 5.6¢ Sentiment: Hold Disclosure: Held
3 Upvote

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(20min delay)
Last 5.6¢		Change 0.001(1.82%)		Mkt cap ! $32.66M

Open	High	Low	Value	Volume
5.5¢	5.6¢	5.4¢	$12.02K	220.8K

Buyers (Bids)

No.	Vol.	Price($)
2	69665	5.4¢

Sellers (Offers)

Price($)	Vol.	No.
5.6¢	21815	1

View Market Depth

No.	Vol.	Price($)
2	69665	0.054
2	230000	0.053
1	30000	0.052
1	19607	0.051
3	28819	0.050

Price($)	Vol.	No.
0.056	21815	1
0.057	198258	1
0.058	116797	1
0.059	21350	1
0.060	216121	7

Last trade - 15.57pm 27/05/2024 (20 minute delay)


Last 5.5¢		Change 0.001 ( 1.85 %)
Open	High	Low	Volume
5.5¢	5.5¢	5.5¢	48298
Last updated 15.08pm 27/05/2024 ?

VRX (ASX) Chart

Hard to argue with that.

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