The chairman and ceo need to be held account at the next AGM. correct me if I'm wrong but is the value of the company is down about 90% since this ceo has been in charge?
Yeah, you may be just about right with respect to price drop since the new team took over. But I'm not convinced that they're totally to blame. That share price lived above $10 for a period in early 2020 just before Covid was recognised.
It was buoyed by the undoubted success of the green whistle which proved, over many examples, just how effective it was for people in pain. Not only that but it was a pain killer that was a non-opioid which was an extremely acceptable story to present to the world.
As time has gone by, the new team has had to dismantle many of the aspirations that drove the initial excitement, They've had to change their approach to the relatively anemic marketing attempts to generate sales across several of the world's areas.
Nothing has really worked so far and nothing was included in this Capital raise request to suggest otherwise. They talked about cost efficiencies and margin improvement, which are normally healthy signs for shareholders, but what was missing was any serious attempt to talk about revenue growth and this is what is needed here at this stage.
From what I've read, "hospital" reports confirm that the green whistle is effective and quick to take effect but it's considered to be very expensive.
And, my guess is that therein lies the problem.
You can have a great product but, sometimes, they're not commercially viable on a large scale.
Maybe it is managements poor performance but maybe it's the business model. Selling an expensive solution into hospitals around the world when hospitals around the world are struggling with budget cuts, demanded by Governments floundering in debt, may be at the heart of the problem.
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