Good evening ynk..
Let me say it is in my interests and many others that I know that the share price goes up..
I agree that on the basis of well reported good news that the share price, should go up, but here we are..
Mr Barnes (his words not mine) has suggested that we need around 20 to 25 sales a year to make a profit. It would be fair to say that lbt being the distribution agent for Australia and New Zealand , has not been successful..I can’t 25 sales happening for some time..
The Covid line and “protecting intellectual data” spiel seems to be well used by our ceo.. (baring in mind we have had many years pre Covid for Apas to be trialled and sold, as our ceo has previously stated in partnership with b.c)
Im sure that any competition is aware that apas sales are slow , very slow..So not much to protect in real terms..
On the one hand Mr Barnes suggests that there are 3 main laboratory chains in this company and there are difficulties in gaining a foothold.
On the other hand we have a machine being trialled in the Uk in a laboratory chain that exists in this country.. (I would like to see at least one being trialled in New Zealand ) So it would seem that there is a potential foothold or access point. From where I stand , I’m not convinced that our senior sales person is the right person for the job.
I think it is a little more complicated then telling mr drone “just get out” “just sell”
There are a great many of us that believe in the product, believe in the technology, believe that ai and laboratory automation is the way of the future .
There are many of us (as can be seen from last years agm) that don’t believe that the current ceo , chairperson or board has been able to take this company to where it deserves to be.. Where it should be currently.
I’m aware that the previous ceo and chairperson were also at this meeting. Imo they also held concerns and one of them “expressed them at this meeting” in a language that was clear, logical and factual.
I believe in the product, but I’m of the opinion (yep only an opinion) that lbts interests would be better served by a leadership change . Whilst Brent may believe he is capable of making lbt a force to be reckoned with , there is plenty of evidence to suggest that this simply isn’t the case..
He mate well have been successful at cochlear with an already proven product , but hasn’t delivered for this company..
I cite the post “crunch time”, coupled with our ceo s recent poor management decisions as evidence of this..
What does that mean?? Well a good indicator of future performance is looking at past performance .. So there are many of us that believe that the ceo just doesn’t have the abilities to run this company..
No significant sales
Board members previously resigning .(any further resignations would be a poor look)
A fda submission that has been sent for corrections , word on the street is they are relying on John Hopkins for assistance)
Simon Arkel, not holding any shares.. not one.. a nice F you, shareholders. As he sticks his middle finger up.. A ceo that has not enforced the lbt charter , directors will hold shares in the company..
Such a low price point for the ceo to get his options..
A share price at 10 cents. (Yep penny dreadful country)
So where to from here.. Well ynk, perhaps we have some common ground.
1. The ceo resigns, recognising that whilst he has had some success , his failures unfortunately far out weigh any of them. Imo he just doesn’t have the ability. I can think of 3 or 4 individuals that could do a better job..
2. The chair resigns and an interim one is put in place.
3. A couple of board members are replaced..(again I can think of many others that would do a much better job) With a proven track record of balancing the interests of share holders with the day to day running of a company. Perhaps those that can raise capital, in a manner that is good for both parties..
4. A new Australian sales person is appointed, replacing the existing one.. (pb your just not cutting it)
5. Hawkesbury partners and lbt part ways and a company a proven track records of producing results with integrity is appointed. Again. Such companies exist..
One thing I am sure of is this.. We shouldn’t be surprised that by doing things the same way , we get the same results..
I believe in technology, the machine , the software but that is it..
regards
Callahan
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