The Biotron experiment is just that - an experiment.
The Australian Government should be held accountable for companies like Biotron that go to the open market and induce hard working Australians money that unknowingly invest in an endless pit of Research and Development.
Listed companies like Bitron Limited that purport to own valuable IP, that have the potential to make a difference in society should pass certain milestones, sponsored by the Australian Government through an incubator or other controlled arrangement, before being allowed to go to market in search of funding from unsuspecting mom and dad investors.
In our case investing in Biotron, it's too late, however, it's not too late to bring our plight to the attention of the government so that this situation is properly governed in the future, particularly in the Biotech sector.
Ms Miller should never have been CEO. She may have been more suited to another role, but not CEO and all the responsibilities (and benefits) that come with it. Mr Hoy as Chairman has been absoutely useless - earning an annual salary of $40,000 for signing off on the the Annual Report. There is no other evidence that he has done anything else other than this one task all these years.The company secretary earns more at $70,000, but he has more responsibility - he signs four quarterly reports.
The board of Biotron Limited has no concern for its shareholders. As shareholders, we need third party intervention to investigate this company as to their business conduct and day to day operations. Has anyone tried calling the Biotron office lately, or say, in the past few years? No one ever picks up the phone..
Time will tell the story?? The story that will be told regretabbly appears not be a happy ending, unless we become active and our voices are heard (really heard), and those with the lack of conscious that continue to manage this company and benefit for their personal gain are taken to task - and it starts at the top. Mr Hoy needs to be replaced, as does Ms Miller. Company secretary, are you kidding me? You too, step aside, please. We need to start afresh.
BIT Price at posting:
5.2¢ Sentiment: None Disclosure: Held
