There is a huge difference between reporting news as it is and talking down the news. To state that the tripling of production capacity “MAY BE significant” is totally unnecessary and is Peter Cook’s way to dampen the news.
To state that it “is significant” is stating the obvious and could be seen as ramping up and therefore unnecessary.
This statement any increase in resultant royalty payments, will not effect Biota’s cash position until June 2010, at the earliestwas stated deliberately to misled the market. Why did the idiot revealed the effect on BTA’s cash position without explaining it, knowing that the market will misinterpret it as royalty will not be booked until June 2010.
Any readers who want more details about cash position and booking royalties can read it at:
http://www.hotcopper.com.au/post_single.asp?fid=1&tid=944330&msgid=5263917
Peter Cook had failed and continue to fail to report the price sensitive extension of the Japanese patents to the market. In fact if the extension was granted prior to 26 Aug 2008, Peter Cook is guilty of deliberately misleading the market on the patent extension.
For those who want to read the details are in this post:
http://www.hotcopper.com.au/post_single.asp?fid=1&tid=936783&msgid=5217474
Please let us know of any other CEO of an ASX listed company who is such an idiot as to talk down the company.
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