Email to CEO & Board

I sent a group email to John Ryan and long term board members.  Probably go straight to junk mail but it made me feel better....

Dear Sir/Madam

I am a small investor of Unilife Corporation.

I write to you today to share my great disappointment in the continued poor performance of Unilife Corporation, particularly as a business answerable to investors, i.e. the owners of the business.  Like most investors, I have been somewhat shell shocked by poor management and accountability, from the uncontrolled cash burn of prior years, to constantly letting cash balances dwindle to less than a quarter’s reserve, to the shocking destruction of investor wealth at the hands of the Discovery Fund convertible note.  In addition, I am somewhat disappointed in the continued selective timing of announcements (e.g. the recent $10 million liability resulting from the company restructure that was signed off on last year).

In the absence of a company saving announcement in the next few days, and given most of the current team presided over the poor management of the company in recent memory, I would hope from a moral and ethical standpoint, as well as showing empathy for investors wealth being completely wiped out, that the board and executive team resign in the event of bankruptcy.

Thank you

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Investor