lets go back a couple of years. OBJ had Jeff, Chris and Glyn as directors. had a promising deal with P&G, progressing bodyguard and some promising tech. since then we have discovered that P&G, so far ,is only a mirage of potential earnings. always just around the corner. its been nearly 3 months since the new agreement and still no sign of any new product releases. really where was our direction?
thank goodness that we somehow got Steve to join us. he in turn recruited Tony and Cameron to the board. we finally have guys with commercial cosmetic experience thru their involvement in Becca. then thru some miracle they get Paul Peros to join us. the guy who was the 3rd on board Foreo after the 2 founders. Foreo that now has a $billion revenue and sells a product every 5 seconds (or something crazy like that). how did that happen?
maybe our tech is pretty good, something must have excited these guys to join our company. guys of this calibre don't just jump on a sinking ship, if they don't see potential and a pathway to success. and that was what we were before these guys joined us, a sinking ship. are you happy with these guys running us or the old days of just Glyn?
before they did, people asked how could we market and sell our own product, how could a small co. like us be able to do this. well, firstly Paul created a marketing subsidiary in Switzerland and Croatia. and in that he persuaded 5 previous co workers from Foreo to join him. now that is a vote of confidence!!! then opened 2 more subsidiaries in Dongguan (renting factory space) and Hong Kong. (there has been a mention of Korea and London but no confirmation I have seen). in China Paul recruited a guy named Anthony Fitzpatrick, who was the 1st guy recruited and had been with Foreo for 5 years previous as Chief Operations Oficer. for us, he is director of operations. since the 9 months Paul has been with us ,we have had the release of Reduit1 and Hairpods at CES 2020 and the launch next month. That is how!!!
so not just happy with that, management now claim they want to try to become the biggest wellness company in the world and announce their intention to buy the $85m NS company. I don't fully understand how we mesh with them but they give us cash flow, distribution networks, ability to get a $20m loan, an ability to produce our own product such as a range of sport, wellness and lifestyle enhancing products with bodyguard. who really couldn't see these guys producing something pretty impressive from it.
from this we have had Danny is selling b/c the business because it is dying, if he doesn't hit ebit figures, larger than the previous years he doesn't get the last $15m payment.thats good incentive to hit those targets. then what will Danny bring to the board, the bodybuilder, well he has built a $85m company (even if you think that is overpriced say 1/2, creating a $40m company is impressive) plus the profit he has created over the last 20 years. I welcome a guy like that on our board. he has created a profitable company worth way more than our m/c. welcome aboard Danny.
then we have management are going to sell off the reduit side of the business, where is proof of this? where in Steve, Tony, Cameron or Paul's history have they shown this type of behaviour? all they have shown in their working history is success and innovation. really where is the proof that our management is so devious and dastardly that this is their way of doing business. are people just jumping at imaginary shadows? I could say it's a possibility that we will be the next CSL, its possible but not likely. if people are basing there vote on the very small possibly of this happening aren't they really just jumping at shadows. where is the written evidence. where is the past history of such devious behaviour from these guys. there isn't. (people will claim the 3 selling shares is evidence, but come on, if in the same position wouldn't you have done the same? the stupid thing was I didn't read the sign and sell some as well, my bad. and it had nothing to do with Steve, Tony or Paul anyway)
as far as I can see, Steve Tony and Paul along with Jeff have taken a struggling company and added vision and innovation. they have shown they are doers, they have a proven track record of success and following thru on their plans. without them we would have just drifted along as the past 10 years, just hoping as we have in the past. now we have reduit and hairpods, bodyguard to be released in the 2nd quarter, and with our tech and experience, what will they be able to produce from the NS acquisition. do you really think these guys think they are buying a lemon. I will continue to support these guys who have shown success and innovation in their working life. I won't be jumping at imaginary shadows.
View attachment 1980802
(20min delay)