A long post below on what goes on in my head.You have been warned.
A quote from John McEnroe …
The legendary tennis player John McEnroe was famous for being one of the best and most successful tennis players of all time, in winning 7 grand slam singles titles including 4 US opens and 3 Wimbledon finals. Like me, many tennis fans of the day would love watching his incredible tennis skills on court, and we were also entertained by his tantrums, outbursts and of course his mantra of “You Cannot Be Serious ! “ when he would disagree with a chair umpire or linesman’s decision.
Im sure that many here can relate to me, when there are days that we look at our screens and the stocks that we own, and yell the same words “ You Cannot Be Serious ! “ .If you walked past my place at any given time during the day it could be assumed that I had an affliction of tourets syndrome, because you would hear those words and me raging at my screen “You cannot be serious !” .
When I discovered Purifloh , and took a position as a shareholder, I thought my days of imitating John McEnroe would have been behind me, yet it has only caused me to become even more possessed by the great man, and I cannot believe what I am NOT seeing and NOT hearing.
The lack of shouting about progress from management is akin to the ball bouncing 1 meterbehind the base line, and the linesperson just sitting there quietly.Hang on, … THE BALL WAS OUT !!YOU CANNOT BE SERIOUS !!
January 2020 - When the Corona Virus outbreak started in China, we all were excited and feeling great that we are part of a company that has developed FRG, the airborne and surface residual virus killer. On the 17 th of April 2018, WRG (Purifloh ) announced :
“Results The performance of the Bluemist™ system exceeded expectations in all areas of performance, surpassing the highly encouraging observations during Somnio’s in-house testing phase. • Single Pass Kill rate for Bacteria (Erwinia Herbicola) at 3.91 Log – 99.9876% • Single pass kill rate for Fungus (A Niger) – 4.28 Log – 99.9948% • Single Pass kill rate for Virus (MS2 Bacteriophage) at 5.74 log – 99.9998% • Single Pass Kill rate for Bacterial Endospores (Bacillus Globigii Endospore)– 3.39 Log – 99.9598% • Total kill rates of biological contaminants in the entire room is extremely high – achieving 99.999% bacteria removal (> 5 log) and 99.9999% virus removal (> 6 log) in 90 minutes • The Bluemist™ system also demonstrated a unique capability to significantly improve the capture rate of submicron particulates (~0.5 microns) compared to the typical performance of an inline HEPA filter. The trials demonstrated that Bluemist achieved a 98% improvement over a standard HEPA filter for small particles. This is very significant in that many dangerous pathogens and toxic chemicals - e.g. smoke and soot - fall in this size range. “
So around the end of January 2020 there is a new Virus sweeping through China called “Corona Virus” closely linked to the Flu virus, but much much worse … It would have been conceivable that the first thing our management would have done is :
“lets get a lab to test if FRG can kill C19, in the same way that we did the test for the other nasties back in 2018 !!! “
Wait a minute … why are you not announcing that we are going to test the efficacy of FRG against Covid 19 in a lab ??
“YOU CANNOT BE SERIOUS !! “
March 2020 – After 3 months of turmoil, chaos, thousands of deaths and cities lock downs in China, the virus has now penetrated Europe and thousands are expected to contract the virus, with thousands expected to die.Airports shut, lockdowns in place and economies crashing by the minute.
Nothing from management ….Wouldn’t the natural discussion and decision have been something like “ We should probably have a look at testing whether FRG can kill this thing , we could have a solution to stop people from dying, lets test it” ?
YOU CANNOT BE SERIOUS !!”
June 2020 – Hundreds of thousands dead across China, Europe, USA, South America, Africa, Middle East. Millions infected across the world, lock downs have crushed the global economy like never before in history, Zoono’s stock price is $3 , any company releasing an announcement with the word Covid 19 in the heading shoots up 2000 % in a day, mass unemployment, I cant buy a banana in the supermarket without my mask.
Silence from our company ….. “YOU CANNOT BE SERIOUS !! ”
June 2020 – We hire Chuck .Nothing from the company “YOU CANNOT BE SERIOUS !”
So to calm myself down I browsed through the shiny new PO3 website , notably the corporate governance section, and came across a very boring document called “Corporate Governance and policies manual”.
This 30 pageliterary sleeping pill contains the "rules" our esteemed board must adhereto in their roles and responsibilities when working for the company.
Thehighlighted bits need no extra explanation : copied from the document
"
1. ROLEThe Board’s primary role is to represent shareholders and to promote andprotect the interests of Purifloh Limited by governing the Company.
4.RESPONSIBILITIES OF INDIVIDUAL DIRECTORS The Chair : The Chair is responsiblefor leadership of the Board, the efficient organisation and conduct of theBoard’s function and for the briefing of all directors in relation to theissues arising at Board meetings. The Chair is also responsible formonitoring shareholder communication, continuous disclosure compliance andBoard performance.
5.DISCLOSURE OF MATERIAL PRICE SENSITIVE INFORMATION Any information concerningthe Company which would, or would be likely to, influence investors in decidingwhether to acquire or sell the Company’s securities (material price sensitiveinformation) must be disclosed to ASX in accordance with this Policy. TheManaging Director is responsible for determining what information is to bedisclosed provided that, if achievable in a timely manner, any proposeddisclosure to ASX is firstly reviewed by the Board of Directors and the CompanySecretary or, at a minimum, the Chairman. Where there is doubt as to whethercertain information should be disclosed, the full Board will be consulted, andif deemed necessary by the Board, external advice will be sought. The followingprovides a guide as to the type of information that is likely to requiredisclosure. The list is not exhaustive. The determination of whether certaininformation is material price sensitive information which is subject tocontinuous disclosure necessarily involves the use of judgment. There willinevitably be situations in which the issue is not clear.
Matterswhich normally require disclosure include:
* significant developments in regardto new projects or ventures;
"
Since Billbecame CEO in Nov 2019, we have not even had ONE notable announcement thatprovided any clear update on what is going on with our company.We have had two Quarterly updates containing a few short paragraphs which can be summarized as :
1.We willconcentrate on air purification (and ?? )
2.We arespeaking to some OEM’s(and ??)
3.We aresuspending the TB testing
4.A hotel inMelbourne may test FRG (what happened to that ??)
5.We aretrading on the US OTC and may also be DTC soon (what happened to that ?? )
6.Somethingabout a prototype for OEM’s to test with, and we are getting an air Industryadvisor ( huh … you have nothing more to tell us about this ???)
7.We willspend around the same money in the next two quarters as we did in the last
8.We thinkwe have enough money to keep going for a while
9.We thinkwe have a good thing in FRG, but sometimes the big boys take a bit longer tomake a decision.
That’s it!!10 months have gone by since Bill got into the driver’s seat, and that is meant to be progress ??Seems like he might have forgotten where the gas pedal is, because we don’t seem to have moved anywhere.
Isn't thisthe guy who built Upjohn (now Pfizer) ,founded MPI research (sold to Charles river for 800 million ), was the CEO of Stryker corp ( 74.6 Billion Market Cap) , once director of Monsanto, Consumers Energy, Bissel etc …
Surely hecan pick up a phone and get a lab to test FRG against Covid 19 faster than youand I can say
“YOUCANNOT BE SERIOUS !!! “
Had afortune teller looked into her crystal ball around Nov 2019 and told me about Covid19, and that she sees PO3 only capped at 93 Million …. Well we all know what I would have yelled !
