Having also read this presentation they have to make a big break soon don't they and actually complete something? If you are a true believer you do not have to look very far to be blinded and carried away by all the words associated with potential.
(final step, expected, approval, once granted, will be, will establish, subject to, underway, further encouraging research, launch, pending, to mention a few ...all of these are in the presentation)
What is alarming about this presentation is the big deal they make about $1mil pa sales expected from HL pharma and Mabsut life. Heck that's just chicken feed compared with the Varmco deal who apparently last November were to make a $1mio deposit on a $40mio contract...and yet no mention of it?
Then I look at who's on the board. I've been less than impressed by all the conditional statements they make to the market, however one of the reasons I sometimes feel encouraged is having Ross walker as one of the directors.
"Dr. Walker is a well-known figure in Australian health, as host of a weekly radio program and a prominent cardiologist who specialises in echocardiography and preventative cardiology. Dr. Walker has published several books, and lectures both nationally and internationally. His contacts in the medical establishment and beyond allow him to facilitate relationships for MGC and draw positive public attention to the brand".
This guy is well respected in medical circles. He does not appear to come across as a charlatan and I doubt that if he thought that the rest of the board were a bunch of scammers that he would stay in that capacity. The question is, would he be prepared to sacrifice his reputation for shareholders money?
Hope has never been a very clever investment strategy but at these prices with the possibility that something will come to fruition I'll hang in there.
MXC Price at posting:
7.1¢ Sentiment: None Disclosure: Held
