Peter Cook negotiating and management skill is legendary at Orbital Engine. During the period he was the CEO of OEC, oil prices were sky rocketing from $20 a barrel to over a hundred and global warming was the catch cry of the day. Orbital has the technology to make combustion engines burn less fuel. Despite all the stars were aligned for OEC success, OEC share price dropped four folds from the mid 50 cents to the low 10 cents reflecting Peter Cook legendary skill.
Remember Peter Cook refused the GSK $100m offer and after spending in excess of $30m in legal fees negotiated a $20m settlement. He then blamed the previous CEO for suing GSK, told shareholders the settlement had normalised relationship with GSK and asked shareholder to vote for the resolution to reward hundreds of thousands of free options for his sterling performance. After shareholders voted down the resolution, Peter Cook collected his free options during the Christmas period hoping shareholders would not notice.
Do not forget the Orbital Technology were already in production. The new anti-infectives are novel ideas in its infancy stage.
Will the current management take BTA down the road Peter Cook took OEC? Check the OEC share price and see for yourself Peter Cooks performance at OEC. If you are relying on Peter Cook?s skill to negotiate a meaningful LANI license look no further than the $20m GSK settlement. He got his hundreds of thousands of free share options - Did share holders get the 'normalised licensing deal' ?
BTA Price at posting:
$1.11 Sentiment: Sell Disclosure: Not Held
