Hi attitudes, yes is a big call to pull up the BOD, hopefully it will not be necessary. They may indeed be doing what they need to, unfortunately they may not be portraying this in the right manner via communications and sp appreciation.
Yes it is way too easy to criticise from afar, loss of capital and uncertainty for the immediate future can make for many recriminations against the board. Perhaps a equal 'crime' is for investors to be complacent and apathetic, in a ideal World perhaps the middle ground will see the best case scenario.
Yes we do indeed have products in market/ about too, the reality check, as you rightly pointed out, can be years in the making. What would be rarer and quite a achievement is to see significant revenue from said products in the near/medium future thus validating obj IP to the market. The original launch was a step in the right direction though disappointing because it was a 'soft' launch with the resulting revenue, our expections, perhaps too high!
The current sp may indeed be a accurate reflection of the worth of the company at this time, as much as we would wish it were higher.
What's going to change that in the short term? Enough revenue to well and truly exceed cash burn and thus completely ruling out any future CR s. That combined with new products coming on line and perhaps deals with other majors should nail the rerate.
Gonna take time, more than perhaps we would wish for, be great to see BG launched, surface hygiene partnership take off .... would definitely keep investors interested especially while receiving increasing revenues from products in the market place.
Perhaps some of the criticism the BOD faces, is self inflicted by themselves: perhaps overpromising and under delivering, taking into account confidentially clauses and the cone of silence culture.
Last years 10 million share grab had more front than Myers, another whack at it this AGM is not exactly the 'right' time, imo. Imagine the angst if the sp was to continue to languish and they wanted to realise cash and unloaded on market!
A announcement reporting advance orders or a launch will not rerate, imo, obj in the immediate future, cold hard cash hitting the bottom line will.
OBJ Price at posting:
4.4¢ Sentiment: Hold Disclosure: Held
(20min delay)