IBX (ASX) Ann: Quarterly Activities/Appendix 4C Cash Flow Report

Originally posted by stevenjd: ↑

There is always light somewhere, as the sun sets here, it rises elsewhere. Thats where you'll find me.
I'm holding one other Med tech going commercial this year. BDX. Numbers are potentially incredible.
And watching one other, no posts yet until the entry window puts the apple pie on the sill.

Not investment advice.

At 11c is equivalent to .0028c, under .003. Thats what the consolidation has done, without the immediate call for capital at 1c pre consolidation, or 40c post. The selling from 40c to 11c has been a relentless call by sellers, that this ship is losing its buoyancy, and management only when the water is entering the upper decks realize they should have acted sooner.

While the sale of NPs is a positive, it does not keep up with the outflow of funds. They should have addressed a simple equation to strip the staffing, remuneration and corporate costs to a minimum, to natural balance 6 months ago, even prior to the consolidation. They were relying on the Mercer convertible note but even that had a floor price that has been breached by their lack of attention to the ebbing confidence. All the potential, yet not a dime from any strategic interest. Says to me that the strategics are simply waiting to consume the IP after Troy has fallen.

You are now betting on the timing of a potential trading halt, and potential suspension while administration while they seek funding to address insolvency. What now ? could they lower the convertible note base ? .002 in the old coin ? Dilution. And juggle incoming payments while balancing act of potential of insolvent V outflows? Would be life support, but does not address the imbalance, and the confidence of the market required to engage buyers. Would anyone support the CR if there was not a plan in place to rectify ? IMO, only a JV with a MAJOR who would take the cash burn burden off the companies hands, could save this. And you would want to see staffing costs and remuneration significantly curtailed. Unless that is clearly articulated, then you are just feeding the wolves one more time. While industry strategics are waiting like Vultures.

Sometimes the casino wins, and we lose. Our penance for lack of attention to the fuel gauge.

GLTA.

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Thanks Stevo - but a few home truths for you to consider:

1. The BoD and BP have treated Aussie shareholders with contempt for the last four years.

2. The lack of reporting on the Oz Phase 1 trial was a disgrace. The trial had zero mainstream publicity. If BP couldn't get down to Oz to promote the trial (because of Covid restrictions), then IBX should have engaged a local prominent Oz personality to do the publicity circuit. How much would that have cost? Possibly $100,00 AUD? Instead BP proceeded to do interviews on financial sites. As if a female facing possible breast cancer is going to be looking at friggin' financial sites. As I recall, the trial took 30 months with very little reporting, leaving shareholders in the dark. Unfortunately, In my estimate, BP has zero insight into his behaviour.

3. In the company's Oct 2013 Quarterly, at 8.5, reproduced here for your edification, Stevo:

8.5 Estimated quarters of funding available (item 8.4 divided by item 8.1) 30.4

So the company, just 13 weeks ago, was saying, that they had 30.4 Quarters of funding available. So in excess of 7.5 years up front funding available.

Yet in the company's latest Quarterly report - well basically they say that the company is broke.

That drastic change in Imagion's financial circumstances took place over a piddling 13 weeks, Stevo. Think about that. As I keep saying Stevo - BP and the BoD of this company have no shame or insight into their behaviour.

No wonder Briggs did a runner when asked to sign off on the latest Quarterley. Who wouldn't? He probably looked at the Oct 2013 Quarterley and was comforted by that 30.4 figure only to be confronted by the BoD asking him to sign off on the January 2024 Quarterley implosion.

And what partner or joint venturer is going to involve themselves in a deal with Imagion while these tossers are in charge? It's simply not going to happen. They will wait until it goes into possible Receivership and pick off the best assets.

I won't bother going into BP and the BoD not buying any shares in Imagion. They just left that to the the silly Australians, 8,000 miles away.

Turning now to your behaviour on this site, Stevo. You've been a relentless upramper of this stock for a number of years. I'll just leave it at that.

Regards
Stretguy