lets do something then, page-5

Jovann, you are correst. Their is no point crying over things we cant change. It is what it is. We need to focus on what we can change, or more specifically management need to change certain things.

Agree that we cant replace Palermo. We share an office and staff with his other entities. Removing him from PNO would likely be similarly to Rudd undermining Gillard. It would get complicated.

So rule out management changes. Also rule out pay cuts. Not going to happen.

Rebel raised the issue of the Gel, and this kind of delay is detrimental. Even if funding is the main cause. Of equal concern is rolling out inferior products. Thermalife is great but they want a new improved version. The first Gel is deep heat then later release adds peptides. And the sunburn cream will initially be aloe vera then add peptides later. All funding based decisions.

Communications is also a concern. Rebel mentioned the delays and no real reason. You've mentioned before about the habbit of name dropping then no further mention. Medtrak is one example and DCC could end up the same. OBJ manage to give the odd update even though money isn't flowing in from any trials.

But it really does come down to funding. We all anticipated this rights issue. We didnt know exact timing but we thought it was due around now. Market then factors in dilution. Sp falls or cant rise. And we get caught out.

OBJ have the benefit that most its projects are fully funded by prospective partners. The fact they are only "prospective" partners isnt as important as the fact it is basically a free option for OBJ. Getting their product developed free with a possible deal at the end. And worst case, they lose nothing.

PNO are funding their own product and it's expensive and highly competitive sector.

If funding is the main cause of delays and the main cause for lack of marketing and the main cause for low sp, then the way I see it is we need to take our medicine. We need to consolidate and recapitalise. Besides, now it is no longer a choice. It is about priority and survival.

Will be interesting to see what Palermo "alternative funding" is?

If we could negotiate the convertible notes as part of the consolidation it would be great too. Instant boost to market cap.

Say we are about $2mil now. Consolidate to around 5c. Convert the $1.3mil of debt into new shares at a discount. New market cap around $3mil. sp around 4.5c and debt free. Then raise as much as possible. I'd attempt a 1:1 at the new discounted sp. Even if it falls short, which it likely will, we may still raise $2mil.

Sp of 4.5c, $2mil in cash, no debt, and $5mil market cap. Two products on shelf. Could double money from there imo.

But ofcourse the risk is they squander the $2mil and we are back here in another 2years scratching our heads.

When you look at our liabilities, and receipts that could be slow turning into cash. We are on the verge of insolvency imo. Next step will be management dont get paid while they find funding. With salaries we have 1month of cash maybe less with the Games approaching.