Ann: Shareholder Update June Quarter 2016-OBJ.AX, page-8

"OBJ has been informed that Coty will now compile their assessment of their test results and analyse these before reverting back to OBJ."

It doesn't sound like there will be a deal with Coty any time soon. This seems less enthusiastic than previous updates.

"Discussions have moved a step closer with two potential Licensees for BodyGuard expressing strong interest in the entire product portfolio."

On the surface this sounds a little more encouraging until you read back over the last few years' updates and realise that this sort of sentiment has been expressed previously with the likes of GSK and Coty to mention just two. No mention of P&G interest any more....I suppose having had time to digest the results of the trials they have said "no thank you".

The rest is very ho-hum, just more of the same "promise" and "potential" being dangled to allow the OBJ fanzone to continue their subjective speculative praise on HC. It is often said by some here on HC that the market needs to wake up to the value of OBJ. Perhaps those chanting that mantra need to reflect on that advice an calculate what a company with quarterly returns of $47,000 is really worth - in my opinion, certainly NOT almost $140 million (current market cap), that's for sure. Over two years ago, I was told by some that my arguments about the high MC (at that time it was over$200 million!!) were irrelevant because I was failing to factor in "potential" and that if I was to return in a few months or a year then the MC would be justified. Well, two years on I am repeating my criticism and from this latest report see no reason to change my stance.