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3.9¢ g medical innovations holdings limited

he was not invested. he loaned USD10M and converted it to...

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omaz

650 Posts.

181

21/06/20

04:27

Post #: 45348639
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Originally posted by Brett M H: ↑

G'day everyone - hope your weekend is going really well.

Just a quick update on my post from Thursday - when I emailed Dr Geva.

I received the following reply from him fairly quickly:

Brett
How much money have you invested in GMV shares ?
I have never asked for shares and options while investing into the company $12M US.
I am asking for performance shares only if the company is reaching the market cap’s we mentioned in the letter to SH .
Best
Geva

Sent from my iPhone

FURTHER EMAIL: So I then sent the following email to Dr Geva two nights ago - but I had not received a reply from him yet:

Dr Geva

Thank you very much for taking the time to reply.

I have invested around $200,000 AUD in GMV over the past few years.

Those shares are now worth around $45,000.

I fully understand the risks associated with investing in micro caps as I own a number of them, and I also understand that GMV needs funds to grow – and hopefully you can tell me that revenues are now growing strongly.

But the number of GMV shares on issue has exploded recently – and these shares are all being issued at a time when the share price is horribly low.

So all of us shareholders are getting heavily diluted – and this is about to get worse if these large amount of performance shares get ratified at the upcoming AGM.

We would have no problems voting for these performance shares for management – if the company was doing well, and if these performance shares were based on fair “market cap” figures (for the performance shares to be issued).

But the company share price is trading at almost all time lows, and the lowest performance hurdle market cap figure ($100m USD) that you have chosen is only where the market cap of GMV was just 6 - 12 months ago? And the market cap was obviously much higher than these levels just a couple of years ago.

So this is why all the GMV shareholders are infuriated that you are asking to be handsomely rewarded - just for getting the share price back to where it was a few months ago???

Based on what I am hearing and seeing, you are going to get a large number of “against votes” at the AGM. And worse still, long time GMV shareholders are leaving in droves. It may not be enough votes to stop these performance shares from being approved, but there is a large number of significant shareholders who have already voted no to these resolutions.

As I said, I have been a regular poster on forums supporting GMV for many years – and I have got to know a number of other regular posters who support GMV.

I have read in anguish these long term avid shareholders “turning” on both you and the other management over the past few days – as they feel that these performance shares are set at market cap levels that are way too low, and therefore they are now questioning your values.

Dr Geva, again I implore you to reconsider what market cap levels these performance shares start at.

Otherwise I am really concerned for my own investment, and I am also really concerned that you will be trying to raise money at share prices way below the “already horrible price” they are at today – as most long term holders will be gone.

Sorry for the long email, but I really wanted you to hear how “extremely down” everyone is about these latest resolutions.

Look forward to hearing from you.

Expand

he was not invested.
he loaned USD10M and converted it to shares.

tired from his bs talking. Waiting for the legal claim to come, count me in.

best,

GMV Price at posting: 5.0¢ Sentiment: Hold Disclosure: Held
8 Upvote

1 Great analysis

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