AN1 0.00% 0.8¢ anagenics limited

Ann: Trading Halt, page-47

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  1. 475 Posts.
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    Advangen was bought in 2013 to generate enough revenue to drive Midkine. It is now 7 years since the acquisition and none of that has happened, just like many promises Cellmid management has undertaken. Zero accomplishment. At one time, it reached a state where it could not afford wrapping material to ship the product and instead used old newspapers. Over the last 2 years alone, almost 15 millions dollars has been injected into the company and all has been burnt through mismanagement and incompetence. The company is still to generate positive income and the SP is very very low and falling. With the current situation, limited revenue, high costs, failing SP, the only option left is a take over of some sort, otherwise the company will be dead very soon.
    In my opinion, a grand positive announcement, does not require trading stoppage. It would have been an opportunity to raise or save the SP from extinction. Why waste 2 days.
    I admit, I have made a bad investment. It is too late now to cash in as there is very little left. I would support a take over.
 
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