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I did try and pursue the option issue strongly and not just...

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Beancounterobj

534 Posts.

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21/11/19

18:32

Post #: 41563213
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Originally posted by cmk1969: ↑

'Is effective from products manufactured after sept 2019. So it gets backdated but only announced today.. how very convenient.'

I have discussed among friends & listened/read ad nauseam via Hotcopper re this proposed deal. Sometimes we need to look to exactly what is in front of us. The Results of 2019 AGM, where the new Replacement of the Constitution has been approved; now opens the door for a deal of this nature to be easily put through.

This recent Announcement - OBJ and Procter & Gamble Execute New Agreements has me puzzled as to exactly who is negotiating with P&G on behalf of OBJ's Shareholders?!? Here's a post from April 2019 where I wrote the following:

'There has been talk since before the AGM that there is a back payment on it's way, so where is it? $1 million second payment for the Second Technology? Better negotiated terms/royalties - what are they?'
https://hotcopper.com.au/threads/4c-due-in-next-2-weeks.4717444/page-16?post_id=38177851

Effectively, there will be no 'Back Payment' as it only applies to products manufactured after Sept. 2019 and for all we know, there may not have been any manufactured since Sept. 2019. We have all been told more porkies for over twelve months in relation to this topic.

I noticed SS referring to Kylie Jenner and the amazing success she has experienced with her OWN brand, which Kylie has spent most of her life building herself by way of Youtube, Instagram, Reality TV etc. Her supporters support Her products and should also not be taken for fools that any product she promotes is a sure thing sale; but it's a completely different ballgame when dealing with her own personal brand. There are no guarantees here as Subscribers are fiercely loyal, but worth a shot here. They should also look at the likes of Pewdiepie (102 million Youtube subscribers), Shane Dawson (23 million Youtube subscribers) & Jeffree Star (16.6 million Youtube subscribers) for starters and the plethora of others out there.

The finders fee for Palermo is obnoxious and insulting, but this does not surprise me as it is the Palermo family that are suing OBJ over the Convertible Note fiasco.

If anybody is wondering why the BoD are remaining tight-lipped about required substantial manufacturing costs or adjustments to Danny's set-up; then imo there are two possible explanations. 1. OBJ/Wellfully will outsource this to China for a slice of the action or pay-as-you-order. 2. Once the initial CR is completed, which pretty much leaves no operational money for anything and still requires additional payments to Danny down the track in the many millions. Historically after a consolidation, around 80% of consolidated companies continue to drop substantially...along comes the next 'saviour' CR and probably @ another huge discount of around 10c-15c this time; where SS, PP & Co (SI's & Institutional's etc) again come to the rescue and in the process continue to dilute existing Shareholders. In the real world this is called a hostile takeover in plain sight.

Very ordinary answers to Questions raised at the AGM imo raise further red flags as to exactly what information SH's are being drip-fed in order to make an informed decision.

I have more to add, but I will give everyone some time to digest the above.

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I did try and pursue the option issue strongly and not just accept the answer that the board will look at it!

OBJ Price at posting: 1.5¢ Sentiment: Hold Disclosure: Held
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