Once it was the majestic QUT in Brisbane to proclaim with the sounds of the bell of Prof. Zee Upton that they had discovered the amazing synthetic protein to cure millions of patients affected by VLU, DFU, PU.
Then the idea was sold to the market for millions forming a public company called Tissue Therapies. The Board and the CEO with all that money played the game and opened a super expensive office in downtown Brisbane.
The super management, arrogant like hell, forced they corporate decisions in a direction that after many years led to the huge failure of the European strategy...as millions of capitalizations were wiped out. A share price of 0.75 cents was taken down to 0.07 cents.
Then the Board reshuffled, the CEO was kicked out after been paid A$450,000, the Chairman publicly apologized for the Board strategy failures and a SuoerHero was called up from Melbourne.
The SuperHero proclaimed that he saw value and the QUT technology was super valuable. The world listened and money were risen from a bunch of ignorant investors that believed too much in the words of a person that is just much bla, black, bla.
Months passed by, the SuperHero opened up his dreamed company in Melbourne, his distraction caused delays, money were spent in the super technology and the result was again a total failure after years and many millions wiped out. Like a dog with the tail down, he acutely organized the shift of responsibilities and from running Executive CEO, he just transformed himself to a non Executive members of the Board.
The share price of this Tissue Therapies/Factor Initiative fell from already a low 0.07 to a bankruptcy level of 0.003.
In the meantime the Board did the rest of the job. It got time to let people forget this disaster and let the disgraced shareholders run away, sob, suicide, forget about this story that started with the discovery of a major new protein and is now concluded in total Australian misery.
Well done. Let's play the funeral ode. Let's praise the Board and the Management, let's praise the Melbourne SuperHero for his incredible outstanding vision, let's praise the CEO with his pocket full of monies, let's commemorate the pensioners that desperate and with all the savings lost made the last step of jumping into the Brisbane river.
Ave Maria for the deceased.
FTT Price at posting:
0.3¢ Sentiment: None Disclosure: Not Held
(20min delay)