Great news …well done all – No options for poor performance Next...

Great news …well done all – No options for poor performance

Next step looks like ‘Bumble’ will get “Rumbled” or
“Rumble” will get “Bumbled” or preferably both
I voted my few 400,000 current shares against all resolutions, that is extremely rare for me, but I think it's the only way to ensure the Board got the message that I am not at all happy….’toys out of the pram’

Yes its small but the collective power of many shareholders have let them know we are not happy and a 5 million share option award to the CEO is really taking the p1ss.

This has to be on the head of the CEO and other board members who are supposed to represent shareholders rather than clearly attempt to over reward the CEO Richard Jagger.

They clearly still do not get it …as their earlier announcement on withdrawal of the compensation resolutions… ‘was a red rag to a bull’ that seems to indicate that shareholders were at fault and simply need educating on board and employee compensation. No that the Board needs to get real …this was massive over compensation. The words Tone Deaf spring to mind. Especially as IMHO if BGT can reach commercialization in 3-4 years being potentially a 20-30 bagger

This is why I voted against re-election of the Directors as well. We need some new board members who recognize that they are supposed to represent shareholders and that understand that screw ups like the recent stock raise at a big discount to the then current price that was made after telling shareholders 2 months earlier that there was enough cash for the next 12 months. This more than anything crashed the share price and unfortunately lost the confidence of many retail investor. Such screw ups and a share price lower than float at A$0.20 five years ago do not deserve any rewards.

This is in fact a great pity as I still strongly believe BGT Flavocide is a great product and that the company has made great progress in taking off the table a lot of the risks of commercializing the products over the last 12-18 months. Plus I think apart from the last cap raise and a lack of effective PR /Company advocacy / Institutional presentations /representation and shareholder communication that the CEO R Jagger has not done a bad job in progressing the companies development, just not enough for anything like 5 million shares at an option price of A$0.35

While we might get some minor revenues we are still probably 3 years end of 2023 before we see real breakeven revenue …..like mining take 3-4 years to build a mine / new insecticide approvals need considerable time to prove up and gain regulatory approval .. patience is required however as a company the product is making solid progress1) BASF on grain storage …BASF’s own test results mirror our own in confirming that the BGT Flavocide product works well in controlling pests in grain storage. The current stage 3 testing is to determine the optimum level of the Flavocide Product in the final product. (i.e IMHO a lot of risk has now been taken off the table.)2) Clarkes on Mosquito control going into Clarke testing 3) The April- June Quarterly update stated ‘In May 2020, Bio-Gene signed an additional material transfer agreement (MTA) with a European-based organisation focused on consumer applications in home and garden.’ IMHO that could beBayer with their current insecticides believed to be responsible the devastating impact on bees deaths there is a massive search for not bee toxic insecticides. Lets hope BGT can provide a solution

4) Another 6 or so MTA’s Material Transfer Agreement hopefully progressing

5) I believe more modes of actions and potential pest applications under investigation

I do believe BGT has great potential and will deliver

What needs to happen IMHO

- CEO’s are management they need to be focused full time on the company 4 days a week … next it will be down to 3 days and so on is IMHO not full time. Jagger needs to decide if he is pprepared to be a full time CEO

- Bumble and Rumble need to go and get some better more independent Board members that do not hand out stock options like candy

- We need to new corporate Advisors /Brokers …that know how to sell a rights issue at market or at a premium to market and do more to promote the company.

- If Robert Reis did such a good job at Nuform perhaps he should be come Chairman of BGT

- We do need to recognize the key employees of BGT with a sensible level of stock options and I am all for a that, typically I am fine with that even at lower levels of key staff rather than the CEO grabbing the “tuck box” all for himself

I do believe in employee incentives for extraordinary performance not just turning up for work. Given the above potential 20-30 bagger that I believe BGT could be in 3-4 years . Maybe 500,000 to 1 million shares at an option price of A$0.50 maybe more appropriate for a CEO at this stage of development

Lets hope the Board has got the message ….Keep the faith Thai