Originally posted by cmk1969
Doesn't anybody do any research nowadays? Have we all been reduced to blindly 'thumbing up' any post that offers the slightest hint of hope by way of another 'imo'-20 cent ramp based on personal conjecture, where the post is fundamentally flawed? I'll try not to be disrespectful amg63 and apologies in advance if you are offended.
Let's try to stick to the facts.
First up, Iceman is correct, as we have had a Hotcopper member that has consistently and vehemently attempted to sway current holders and non-holders alike, for the last decade with regards to personal conversations with 'Management' or 'Glyn', and practically nothing ever came to fruition. This is a true and hard little fact to swallow for all the long-term holders; but true none-the-less, as OBJ's Share-price has declined over the last decade and more so declined drastically over the 5 years and last year and a half.
Second, Steve started on 01/08/2018, which equates to almost a year and a half (not a year).
Third, 'Not only that but he has dedicated his time and effort to a little company in Perth with a market cap that is probably at least 1/3 of his net worth after selling Becca.'. Where to start here? By stating that you believe that OBJ's market cap is only a third of Steve's net worth; you are valuing Steve's net worth @ well over $100 million. You may wish to do alot more research here, as all the publicly available information indicates otherwise for the once wine-maker. As far as 'time and effort' are concerned, you would do well to accept that OBJ for Steven Schapera is a Part-time gig. Steven holds the exact same role of Non-Executive Director @ Invincible Brands, is also a Non-executive Director @ Wild Nutrition Ltd; but his main gig is Founder and CEO of London Labs - Skincare for Hair. I repeat, OBJ is a part-time gig for Steven Schapera where he is involved in at least 4 (four) similar ventures, with London Labs being his advised core interest.
https://www.linkedin.com/in/steven-schapera-0a889b51/
Tony Varano is also part-time for OBJ, as he is based in New York and also the Chairman for London Labs Ltd (Steven's core venture), among other ventures.
https://www.linkedin.com/in/antoniovarano/
Fourth, 'Why would anyone waste their time if they did not see one hell of an opportunity to create wealth?' Steven is paid handsomely for his part-time gig by way of salary, Director's fees and will also be 'Incentivised to establish and commercialise new opportunities in the FMCG market'. This theoretically could be by way of performance options approved by Shareholders down the track or possibly via the Consultancy Fees, that Glyn often took advantage of, that appear to not require Shareholder approval.
https://www.asx.com.au/asxpdf/20170706/pdf/43kgpvwl8y5g30.pdf
Fifth, the reason Steven 'has not sold a single share' is obviously because OBJ's share-price has declined since the day that Steven started buying OBJ shares. Steven has patience and is also a business man who would not typically sell shares at a loss. Remember Becca: 'When Steve was giving me a more detailed history of his BECCA Cosmetics brand, he noted that there were 5 seperate occasions where BECCA was struggling through it's Research & Development stage. Each time he kept his firm belief in the BECCA brand and even resolved to further financially support the BECCA brand through these challenging times. History attests that his intuition was well founded, as we know BECCA was successfully bought by none other than the esteemed Estee Lauder for more than 230 million. His patience was rewarded.'
https://hotcopper.com.au/threads/agm-today.3824064/page-60?post_id=28743254
And to be clear here in relation to Becca Cosmetics, Becca was actually sold twice. It was first sold to LBP - Luxury Brand Partners in 2012, where it undertook a 'Reinvention' and then Luxury Brand Partners sold Becca to Esteee Lauder in 2016...'In 2012, Rebecca sold Becca Cosmetics to Luxury Brand Partners, but was still a part of the cosmetic group. The brand went through a “reinvention” process, resulting in a massive reduction of products. In 2016, Luxury Brand Partners sold Becca to conglomerate Estée Lauder. Since fall of the same year, Rebecca is no longer affiliated with the company.'
http://belgradepixie.com/2017/11/14/becca-glow-on-the-go-review/
'Mrs Morrice Williams developed the brand in Perth 15 years ago and sold her holding to New York-based company Luxury Brand Partners in 2012 in exchange for shares. It is understood Becca Nominees will make about $40 million from the deal with Estee Lauder. The transaction is likely to result in a small windfall for the other shareholders, who are mostly in Perth and include business people such as John Schaffer, John Bond, Heather Zampatti and Luc Longley.Several Perth investors were stunned yesterday when contacted by The West Australian, claiming they had not heard much from the company in the past few years, with some assuming it had gone bankrupt. Mrs Morrice Williams has long been confident about the brand’s potential.'
https://thewest.com.au/news/wa/cosmetics-queen-hits-270m-sale-jackpot-ng-ya-122044
Luxury Brand Partners (LBP), a leading innovator in beauty, announced the sale of Becca Cosmetics to The Estée Lauder Companies Inc. LBP has been the majority owner of BECCA Cosmetics since 2012.
https://www.modernsalon.com/article...a-cosmetics-to-the-estée-lauder-companies-inc
Luxury Brand Partners have also offloaded ORIBE and PULPRIOT:
https://www.luxurybrandpartners.com/brands/
We often see individual people try to take a little more credit than history affords them, by way of embellishing. Rebecca and Steven both did a marvelous job, but they weren't the only ones that should be credited for Becca's transformation between 2012 to 2016 and they certainly didn't pocket all the money from Estee Lauder.
One aspect I would like to know from OBJ's current BoD is why one of the new Director appointments was not an Executive Director Appointment as promised. We have Steven Schapera - Non-Executive Director. We have Tony Varano - Non-Executive chairman. And we have Cameron Reynolds - Non-Executive Director. Where is the promised 'Executive' Appointment? On 23/05/2017, OBJ announced that the BoD would be bolstered with 'OBJ expects to add to its current three person Board with an Executive Director as well as a Non-executive Director'. Instead Shareholders got all Non-Executive appointments.
https://www.asx.com.au/asxpdf/20170523/pdf/43jfrmyqf9fz3d.pdf
I'm not saying that I think Steven or the new BoD are not the right people to be taking OBJ forward. They may well be. I just hope OBJ Shareholders don't become like some Becca Shareholders who are on record as stating that they hadn't heard anything in years and assumed Becca had gone Bankrupt. Chilling thoughts.
I have been quiet lately as I have just successfully completed the removal of 7 (yes seven) solar keratosis (skin cancer sun spots) from my face, via a very annoyingly painful process of applying a cream called efudix (Fluorouracil cream) to my face...which is a chemo cream. All good now after 3 months healing...thankfully. It was a mini scare and too close to mum passing from a brain tumor for my liking. But all done now.
Collectively, OBJ now have a team that is better than before, so on this front we are moving forward. I continue to be one of the most patient people in our known universe because of OBJ.
Happy festive season to all OBJ Shareholders.
Absolutely no offence taken CMK, as always all opinions are respected and taken on board, especially yours CMK.
In regards to my 20cent target I believe that to be a realistic target.
Our current cash burn is about $340k/quarter for this calendar year so revenues anywhere north of 1.4million will put us cash flow positive. We are currently receiving an average of 290k a quarter from P&G. So we are extremely close to being cash flow positive. A 20cent shareprice will place the market cap at 362 million which will put quarterly revenues at $2.1million/quarter with a P/E ratio of 50. We currently have 2 separate products bringing in $290k/quarter with another 4 to be released next year; do keep in mind that royalties have been re-negotiated so expect royalties from these new and existing products to be higher. With absolute speculation lets say that these products bring in a similar revenue stream it would put our quarterly revenue at 870k a quarter leaving 1.2 million left to bodyguard to do the heavy lifting. Now depending on which route is taken when releasing bodyguard our upside can change drastically. If we go it alone we will get the lions share, if we go with a large pharma it will be low margins high volume. IMO of course I believe we can achieve this 1.2million target per quarter if the bodyguard is done right, this is an entirely new and novel way of delivering pain relief that is natural so users can treat the site of pain indefinitely. Now I have spoken to Steve and he achieved 4.3million EUR (our entire years target) in sales in 5 days during black Friday, one of many success's he has been able to achieve. I acknowledge there is alot of speculation here but this is why believe if bodyguard is done right 20cents is truly achievable.
At the end of the day CMK we are all responsible for our own judgements and we must live by the sword so as to that individual that you speak of that constantly spruiks our company, IMO has no bearing as at the end of the day if you personally have spoken to management and fully believe in them it should be good enough for yourself to park your money, now if other follow blindly then let them roll the die and bear the consequences.
Also I don't understand why you have brought Glyn up again in terms of taking advantage of performance options, if we are going to stick to the facts here lets not bring up a totally separate individual from the past with different intentions and drive and speculate that Steve's end goal is to also exploit this way as remuneration.
In accordance to your fifth point CMK. Yes, Steve is a business man and as such he wouldn't buy into a company that he did not believe will deliver the goods in the first place so your point of Steve not selling due to the shareprice decreasing confuses me. Why would an individual become a non-executive director if they knew the company was a dud? From what I gather there is a shedload of work going on behind the scenes rather strange of someone to hop on board and put so much work in and collect 178k at the end of the year if they didn't believe in the cause.
I do wholeheartedly agree with your point in regards to an executive director. I have long felt strongly about this issue and agree that we most certainly do need a CEO.
I do respect your comment in relation to Steve not being the sole purpose as to why Becca was a success and do believe that to be the grain of salt in all of this, he was certainly instrumental however.
Glad to hear that that you are well and have successfully removed the solar kertosis CMK, hopefully there will be more to talk about in the coming months.
(20min delay)