This weekend has brought much debate on hot copper on the subject of PRR. Non believers are saying PRR are not going into phase11b/phase111 trials and believers are saying they are. Well even some true believers of the likes of misterS are having some doubts. Firstly I suggest anyone who doesn’t believe to either sell and move on or if you don’t hold and still want to harp on about it have a read of PRR’s ASX announcements which have clearly stated they are applying for phase11b/phase111 trials. I’m sure most can read and find them for themselves. But here is just one that I will give you from PRR’s investor presentation on the 21/4/09.
“Prima is in the final stages of its commercialisation timeline and will commence its Stage III Pivotal Clinical Trial with the US FDA midyear before seeking FDA approval to licence the product for commercial use.
We also have kinetic securities, Abn Ambro and bioshares saying PRR are moving into phase11b/111 trials. Yes they may be paid buy PRR for services but what is the conclusion of all this is that yes PRR are applying for phase11b/111 not phase11 as many say. If as many say the info is coming from PRR to these brokers then what you are saying is PRR are lying to them. I seriously doubt this. Yes the Australian article said phase11 but could it be a mistake or could they mean phase11b. The same article called CVac cancer vac product which PRR are never called it. Has Cvac changed its name now due to The Australian article. No. Beside all this The Australian article was a positive showing that the likes of Lucy Turnbull is a PRR believer even when the chips were down and PRR were struggling. She is now still a believer and will convert to shares rather than take $312,500 in cash if shareholders approve.
More importantly the PRR thread and any thread on hot copper is a platform for constructive discussion on a stock. It helps many out there in there investing and decision making whether you believe it or not. Do we need to hear people coming on saying crash and burn or watch in 12 months comments. Yes it works both ways and we also get the this is going to $1 tomorrow which also doesn’t help. The thing that I don’t understand is when respected posters can post things that are false and misleading. Names are not important here but for posters to say past directors like Eugene Kopp is still a director and will not clarify when questioned says to me that there is an agenda by that poster. Also if a respected poster says that PRR’s dirty past has changed due to Ian Frazer leading the PRR scientific team when they are a holder is ok but when they are no longer a holder the sane Ian Frazer means northing to PRR is very strange to me. What are the reasons for this. Is it to push price down or to justify that persons reason for selling out below current price. Also if a respected poster will say that bioshares has a spec buy class c rating on a stock I expect a link to show this as I gave when I showed the bioshares had a wait recommendation. All good to type things and harp on about them but show a link to justify it just as planetofthewells is asking decan for proof of his .005 phase11 results.
On Ian Frazer he is one of if not Australia’s most decorated scientist and receives rewards around the world including Australian of the year. He is known as a highly ethical doctor and brings enormous reputation to Prr. He is involved with PRR more than some understand and holds weekly scientific meetings with the PRR team. His contribution is more than just a name and has driven and will drive PRR to achieve their goals with Cvac. He is one of the reasons I invested in PRR and I’m sure many others.
Onto the EGM resolutions. Yes the director options have thrown many including myself particularly the 1.1 cent target. What we must understand though is the remuneration and performance that this is for is the 12 months from April 08 to March 09. During this time the average share price for the year was .009. I can see the frustration here but guess you are either going to like it or not. PRR directors could have just as easily paid themselves a cash payment or bonus as they are not voted on by shareholders. In the past Eugene Kopp was paid $350k per year plus cash bonuses that were not voted on by shareholders. Here PRR directors believe they deserve a bonus for the past 12 months work which involved getting PRR back on track after the destructive Kopp days, and that can be seen in its achievements and share price recently. Here rather than take a cash bonus they are giving shareholders the chance to vote whether they deserve it or not. You have the say. I must say options are a great way of aligning interests of management with shareholders whilst conserving cash. Its up to you the shareholders not the directors who could have easily taken a cash bonus. If as downrampers are saying watch out they will dump are right why wouldn’t directors just take a cash bonus.
In summary one must make their own decisions with any stock whether they are a believer or not. If not a believer sell and move on and if a believer hold and wait for the fruits of Cvac.I know what my decision is.
PRR Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
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