I am also growing concerned with the lack of share price support now that we are up and running on the NASDAQ. I attended the Melbourne roadshow presentation where Joel talked about the amount of investors sitting on the side-line in America, just waiting for us to redomicile. I came away from the presentation full of confidence that this was the right move. So far the share price shows zero evidence of anyone in America being interested in IXHL.
Either Joel was playing us or Joel was being played (I suspect the latter as new investors can wait for a CR at horribly low prices and ride the wave up).
We have a very strong pipeline of products - any of which will be game changers. We have just opened the Clinic in Melbourne (first mover) so revenue will ramp up over time and yet, since we listed on the NASDAQ we have headed in 1 direction, whilst Mindmed, Compass (understood to be our peers) and the NASDAQ composite have all gone up - the chart below tells the story.
I hate to say it but whilst I have been a long term supporter of Joel and the team, I am starting to question his credibility as our CEO. He is a very good salesman but in terms of getting runs on the Board, there is alot of evidence weighing up against him.
I hope I am wrong and I have no intention of selling - I just wonder what is going to change for IXHL. At some point there will be a CR (Joel made that very clear) but a CR at current levels would be a disaster. I hope we have enough cash in the bank to get us through our current lows.
GLTAH
R
