I've decided Monday is the last of my buying on OBJ. Each time I add, I pay more than the last...all good though, second time on a share I have averaged up.
Monday we are open on market. Tuesday we are closed, Australia Day, public holiday. Wednesday we are open on market. Thursday we are open on market. Friday we are open on market.
The Monday after this is the 1st of February.
Anytime from the 1st of February we should get some announcement regarding 3M testing of the patch and to see if they will be the first, exclusive, or not interested leaving it for others to cash in on.
My knowledge of 3M other than their business / fundamentals is that they are impeccable at business. Fancy turning yellow sticky notes and similar into a mega corporation.
What I have seen over the year with 3M also is they can be dirty in the sense of buying out competitor products to basically shut them down or just put under their wing to eliminate competition.
If interested in the OBJ patch, and shareholders wise, I think OBJ was very smart to target 3M, I reckon it would be an "exclusive" deal only with 3M or 3M might just buy or consume into the 3M business.
Either for OBJ shareholders I'm sure would make most holders ecstatic, then again, buying them out ceases anything else OBJ may have in the pipeline...but thats business.
If not interested, I cant see OBJ sitting on their butts with a transdermal patch 5 times more effective than its nearest competitor. This delivery method for substances we have seen is right out there from medicine to nicotine, a very un-obtrusive way of treatment delivery, slow delivery and painless.
I do wonder if a big pharmaceutical company such as Pfizer or the like would also want a look in but OBJ chose 3M first so we'll see after 4 more trading days where they stand.
I said a while back I thought we would break through 10c easily before the 3M situation was announced and Friday painted a picture that nearing to the 1st of February, many are backing this situation.
I truly cant see much downside share price wise leading up to news from OBJ regarding 3M, only that some are sitting on solid profits.
The only thing, as its been brought up on the forum regarding cashing in, is which other situation on the ASX have you seen a smaller company possible get their hands of a possibly interested US conglomerate, whose product beats its nearest competitor by 5 times.
Its a rare situation, they do happen, but its rare imo that we see this kind of situation of one of our own little ASX company's develop something kicking any competitors into the ground.
MST was definitely one of those situations developing out of this world military devices, seriously way ahead of its time. Unfortunately, for success of these situations, you need a great product and great management. MST failed on the management side.
OBJ on the other hand has the product in 3M hands currently and if interested, we'll see the deal, licensing, whatever the details are, and if 3M dont opt in at this time, I reckon it could be a god send as management can then target big bio company who currently use a much less effective patch which with 3M being excellent business people, might see an even better deal than the 3M potentially about to happen.
Good luck holders and those entering this week. It will be a fast and furious 4 days of people chewing through line after line imo. If youre not buying, at least watch this one to see what happens when a smaller company like OBJ has a product that someone big could be devouring.
To 10c and beyond!
OBJ Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
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