@mavericktrader4I agree. Too many red flags. Another negative after-hours announcement.
I sold out in mid-June and thankfully as of tonight’s close have made my lost capital back already (thank heck for my lithium miner is all I can say). I know that now I’m not a holder most would want me to jog quietly on, but given I’ve been fairly vocal on the threads I thought I’d share my reasons.
I really do hope Wheezo and Respiri can go places long term (and if they do, I’ll be back on board) but I’m sorry to say I cannot ignore the red flags since the ADR bid debacle, the COVID-19 blame for the revenue withdrawal, now this ‘aware’ query. It doesn’t make for great reading and unfortunately just ratifies my decision to exit.
So Respiri elected to err on the side of caution and call the Sigma announcement ‘price sensitive’, noting they were “excited to announce the commencement of sales of wheezo across 570+ pharmacies…” yet when clarifying to the ASX, they’ve now stated “…there was not expected to be any immediate or material impact on RSH’s retail sales of wheezo.” I’m sorry, but this stinks.
Add to that MM accidentally buying shares in a blackout (in my view likely just a genuine mistake, given it wasn’t a big $ number at all) and the optics are not good. The company has bungled this. First it was just a personal oversight with a warning given, yet now the ASX are onto them, oh they’ve actually appointed lawyers to investigate. Which one is it? The change of director’s interest noted the board confirmed MM was not in possession of price sensitive information when he made the purchase. Now the response to the ASX says he was. Which one is it?
I got onto RSH on the back of what I thought was a great management turnaround under MM, from being stuck in perpetual R&D to getting the commercialised and in production etc. The story was great but sadly the economics have not stacked up, as Maverick said, it appears the $6M revenue target was, in the end, a bit of a fantasy. More fool I.
I really do wish you long term Respiri holders all the best, I will keep an eye on these threads and the company itself of course. Hopefully in 6-12 months time there will be more positive things in the horizon, and I’ll be back - happily even if it’s at a much higher SP. The global problem that is asthma is not going away, and an intelligent management system will be required.
Cheers,
mondy
