Smac,
I do understand this, although it I admit it does sometimes muddled in all the conversations and over time. Again it comes back to definition in my view. You have differentiated it clearly but my guess, based on what OBJ have stated is that the revenue received on June 2nd is that they have satisfied the criteria. SO are they separating it in the same way? Really this is a question for OBJ, not for me. Seems it is a grey area. But I'll take their word on it for Milestone 1. I believe they have achieved a tremendous amount and deserve reward for it. Whether by the letter of the law (apparently their legal team thinks so) or not, they have indicated that they have satisfied the conditions.
For me it always comes back to the issue of shares and dilution. One of the PRIMARY causes of massive share dilution before commercialisation is director salaries. Directors have always been mindful of this and it is why, despite the delays in meaningful revenues, our share price remains where it is. Some may get angry or unbelieving at that comment but it's true. Any significant share issues would have seen the share price much much lower than it is now. So if directors are giving away a bit at the front-end they deserve something at the back end. The need incentives, otherwise why are they here? A few million shares on a 1.78bill shares? Really, is it worth the stress?
Imo, and this happened before AGM last year too, way too much focus is being placed on director incentives and not enough on continual achievements. It is the achievements, not the few extra shares, that will make OBJ, and us, successful with our investment.
As always, way to much emotion being showed, it's an investment, you can't get emotional. And calls to remove long-standing directors is ludicrous imo. You cannot under-estimate the importance of relationships. OBJ is a speculative. If you don't trust management, why wouldn't you just sell and move onto a company for which you had more respect for? I can never understand this mentality. Again it must come down to emotion. I don't invest emotionally, maybe why I struggle to understand it.
If all goes to plan from here, OBJ will start seeing some significant revenues over the next year, Bodyguard will be well advanced, and surface hygiene well on its way. No need to rock the boat, often doing so, will get you undesired results, I've seen it too many times before.
I am confident for the future of OBJ.
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