future prospects

  1. w27
    2,717 Posts.
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    I thought I would post my thoughts on the future for the "new" company, which I think are very bright.
    Firstly lets look at what the new management has achoeved in a short time. This really only began in early March when Craven and Brown gained control and invited Heading and Campbell onto the Board. Since then they have achieved the following:
    Drastic reduction in outgoings.
    An injection of $2.2M from the Tax dept. This is very significant as it represents 50% of the cash in the Company previously.
    Commencement of proceedings against the departing executives for $1.2M. This action is likely to be successful. If you doubt this, do what I did, and go to the Supreme Court Registry and for a small fee you can read the pathetic defence lodged by the departing executives.
    They have found a "merger" partner and completed a "merger". This gives us experienced, competent, and qualified mangement with a track record. We have given nothing to gain this as the Independent Expert's Report shows that the numbers slightly favour CBio shareholders. It gives us diversification as well.
    They have lodged an application for Investigation New Drug (IND). This is a precursor to any trials in the USA, any application for non-dilutive capital or any transaction with a USA based drug company. This is very important. Jones promised such an appication in one of his capital raisings several years ago. It did not happen. The new executives have demonstrated their ability to get non-dilutive capital by already obtaining $4.4M for the new trial of their asthme drug which is now part of the property of the merged entity.
    They have announced a trial in Lupus. This is likely to be a success. We already have spectacular results in an animal model (mice, not dogs as believed by the previous management). We have a wealth of data from previous trials, so our competent management should be able to design a trial which will meet the primary end point.
    These people have achieved an enormous amount in a very short period and it looks like long-suffering shareholders are in for an exciting ride.
 
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