Biotron (BIT) Management: A Masterclass in Manipulation? Time for Answers
GY — the time has come to speak out.
Shareholders have been played. The management of Biotron, led by Michelle Miller (MM), appears to have pulled every trick in the book to secure funds and acquire massive quantities of shares at rock-bottom prices. They used every possible mechanism to raise capital—even reportedly leveraging Computeshare to send misleading texts and make phone calls with fabricated claims of “200% profit” disguised as official communications. Many believe these efforts were nothing more than smoke and mirrors to buy time for C14 and secure funding for insiders.
While C14 got time, MM and her circle got both time and money.
Now the playbook appears to be unfolding again: MM could push to drive up the share price, providing a convenient exit for those who bought in cheaply, likely the same parties who were reassured by MM’s calls or have inside access. We’ve seen this before—post-2018, when a similar pump-and-dump style pattern seemed to emerge.
So here’s the question shareholders are asking:
How many complaints to the ASX and ASIC are needed before regulators take this seriously?
Why is no one investigating:
What exactly C14 is doing?
How it's being funded?
How it will benefit long-suffering shareholders?
And whether MM and associates have been personally enriched by strategies that disadvantage retail investors?
Biotron has been in the game for over 20 years, consistently teasing "holy grail" discoveries and potential breakthroughs. Peter Gage and MM have made claims and presented high hopes. But if, after two decades and millions of dollars from shareholders and taxpayers, the company can’t even be sold for 10 cents per share, then what was the point? Is this just a salary machine for management?
Worse, it looks like the management intentionally let the share price fall to as low as 0.3c to accumulate shares cheaply. Now they hope the price climbs just enough to exit profitably, leaving retail shareholders holding the bag once again.
Where is the transparency?
Why did major shareholders like PN and SL not participate in recent rights issues, while others dollar-cost averaged—only to find themselves potentially selling at 1c or less? The company still hasn’t clearly communicated what C14 is trying to achieve and, more importantly, how it will materially affect the share price. Instead, for years, we’ve been drowning in vague promises:
It feels like MM and her team are being paid handsomely for work that delivers no tangible progress. How can a CEO continue to draw a significant salary while delivering year after year of non-results?
Why isn’t the ATO auditing the structure and source of these earnings?
To many shareholders, these actions are more dangerous than computer viruses, malware, or AI bots—because they erode trust in the very foundation of public investing. These tactics are financial engineering and public manipulation hiding in plain sight.
Retail investors are disheartened. We’ve backed this company, believing in its potential, only to realize we may have simply been supporting an elaborate system designed to keep MM and others employed and enriched.
It’s high time ASIC, ASX, and the ATO step in—not with generic templates and polite deferrals, but with genuine scrutiny powered by AI, analytics, and investigative enforcement. This is no longer about Biotron alone—it’s about protecting faith in Australia’s public markets and shielding honest investors from exploitation.
Since MM and her team have managed to survive and even thrive through all of this, perhaps they are the best—not at delivering biotech solutions, but at mastering the system.
Sadly, it is the poorest and most loyal Biotron shareholders who are left abandoned—unsupported by regulators, confused by unclear announcements, and frustrated by a lack of accountability.
MM and her team have turned financial manipulation into an art form—playing a high-stakes game of hide and seek with public money, regulatory blind spots, and investor trust.
This must end.
Perhaps it’s time for something like a “Trump-style tax” on unchecked executive enrichment in companies that fail to deliver commercial outcomes after decades of promises.
Over to you, GY. The shareholders are watching. And waiting.
Agentic support was taken to compile the post
(20min delay)