When I have have budget constraints I prioritize, cut unnecessary expenditure even cut back on my drawings from the business.
I would have thought the 1st priority for Invion would be getting the anti smoking trial results - securing a partner to proceed with commercialization of the anti smoking product at the same time securing funding for same allowing progress on the other fronts.
Invion has "Investor relations " How's that going?
Well there is a saving for a start.
Invion has " Media relations " Repeatedly cut and pasting old news.
More room for savings.
Managing Director and Chief
Executive Officer Dr Greg Collier said
“The successful completion of this
placement demonstrates strong interest from professional investors to see the advancement of Invion’s programs.
Combined with the recently completed
Share Purchase Plan,the Company has now raised in
excess of $3.1 million ."
The Doctors explained breakdown of the need and use of these funds is for the --- maintenance of momentum.
A comprehensive explanation indeed!
Obviously unsophisticated investors ( remember last months cap raising at 4.5c ) like me wouldn't understand budgets etc.
Now remembering that the current executive intend to participate in this " sophisticated " placement at an 18% discount to last months placement.
It would seem to me that unsophisticated investors (shareholders) are paying the wages for the development of products only to have the ownership of those products transferred. Who are the beneficiaries of this largesse?
Unless persuaded otherwise I will be attending the EGM asking questions and voting NO!
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