For reasons unknown to me the BOD have the support of our major shareholder McRae investments. McRae investments have nominee director Stephen Quantrill on the board, so they would be well informed. I have reached out to Matt twice with no response, he is not interested in engaging with me, I would be interested to hear if other shareholders have received responses to their questions.
My sentiment has changed with regard to management only - let me stress that management aside, the fundamentals of this stock are significantly undervalued. I agree that in regard to industry peers Matts salary would be regarded as reasonable, my issue is with his performance, his achievements to date do not warrant pocking over 1m is shareholder funds. In my opinion, Matt is a poor performing director. Let me elaborate on this with facts, here is a collation of company announcements since listing with planned trial start dates:
Date
Announcement
Indicated Date for Neurology Trial
Indicated Date for Glaucoma Trial
Comments
Link
1 25/07/2018
Prospectus
Q1 2019
Q1 2019
Phase 1a
https://hotcopper.com.au/threads/ann-prospectus.4322366/
2 12/09/2018
NSB presentation to Investors in Singapore
Q1 2019
Q1 2019
Phase 1a
https://hotcopper.com.au/threads/ann-nsb-presentation-to-investors-in-singapore.4425884/
3 27/11/2018
AGM address
Q2 2019
Q2 2019
https://hotcopper.com.au/threads/ann-agm-address.4552715/
4 04/02/2019
Investor Newsletter
Q3 2019
Q2 2019
https://hotcopper.com.au/threads/ann-investor-newsletter.4624805/
5 19/03/2019
Investor Presentation
Q3 2019
Q2 2019
https://hotcopper.com.au/threads/ann-investor-presentation.4679407/
6 11/06/2019
Investor Presentation
Q3 2019
Q4 2019
https://hotcopper.com.au/threads/ann-investor-presentation.4805485/
7 30/08/2019
Appendix 4E and Annual Report
we are excited to progress the technology into human trials at the conclusion of the safety and toxicology programs which are expected to complete shortly
https://hotcopper.com.au/threads/ann-appendix-4e-and-annual-report.4940143/
8 22/10/2019
NSB - Techknow Conference Presentation Oct 19
Q1 2020
Q1 2020
https://hotcopper.com.au/threads/ann-nsb-techknow-conference-presentation-oct-19.5025977/
9 17/11/2019
NSB - Company Update
Q2 2020
Q2 2020
https://hotcopper.com.au/threads/ann-nsb-company-update.5078518/
10 02/02/2020
NSB - Glaucoma Study Update
Success in this study will allow the Company to progress into testing EmtinB in glaucoma patients in clinical trials this year
https://hotcopper.com.au/threads/ann-nsb-glaucoma-study-update.5203966/
11 10/03/2020
Positive Results in Glaucoma Pig Model
The company is progressing the safety and toxicology program of EmtinB to be concluded this year with first human studies to be initiated later this year.
https://hotcopper.com.au/threads/ann-positive-results-in-glaucoma-pig-model.5276629/
12 20/04/2020
NSB Signs Manufacturing Agreement with Mitsubishi
future clinical programs, scheduled to begin in the second half of 2020.
https://hotcopper.com.au/threads/ann-nsb-signs-manufacturing-agreement-with-mitsubishi.5350144/
13 20/05/2020
Techknow Invest Webinar Presentation
Q4 2020
Q4 2020
Assuming no further disruptions to clinical trials due to COVID-19
https://hotcopper.com.au/threads/ann-techknow-invest-webinar-presentation.5404900/
14 25/08/2020
Westar Capital Investor Presentation
Q1 2021
Q1 2021
Assuming no further disruptions to clinical trials due to COVID-19
https://hotcopper.com.au/threads/ann-westar-capital-investor-presentation.5580431/
15 13/10/2020
BIO Investor Forum Presentation
Q2 2021
Q1 2021
https://hotcopper.com.au/threads/ann-bio-investor-forum-presentation.5682053/
16 30/04/2021
Appendix 4C - quarterly
In preparation for the Company’s transition from preclinical to clinical development in 2021, two key executive appointments were made during the quarter
https://hotcopper.com.au/threads/ann-appendix-4c-quarterly.6034154/
17 22/06/2021
NSB partners with Linear Research for Phase I Clinical Study
A Phase I ocular study in glaucoma patients is also planned for 2H 2021
https://hotcopper.com.au/threads/ann-nsb-partners-with-linear-research-for-phase-i-clinical-study.6122465/
18 23/06/2021
Gold Coast Investment Showcase Presentation
Q3 2021
Q4 2021
https://hotcopper.com.au/threads/ann-gold-coast-investment-showcase-presentation.6123575/
19 03/09/2021
NSB Receives R&D Advance & Overseas Finding
NeuroScientific is currently completing the final stages of its preclinical safety program in preparation for the commencement of a first-in-human Phase I clinical study of EmtinB™.
https://hotcopper.com.au/threads/ann-nsb-receives-r-d-advance-overseas-finding.6266252/
20 03/09/2022
Company Presentation
Q4 2021
Q1 2022
https://hotcopper.com.au/threads/ann-company-presentation.6267017/
21 26/10/2021
Company Presentation
Q1 2022
Q2 2022
https://hotcopper.com.au/threads/ann-company-presentation.6375821/
22 11/11/2021
Chairman's Address to Shareholders
Our Neurology non-clinical safety program is in the final stages of completion and the Company looks forward to finally transitioning the program into clinical development in the first quarter of 2022
I’m also proud to say that this year our ophthalmology pre-clinical program completed a number of pivotal safety studies with 3 months non-human primate studies on track to be finalised in the early part of 2022 and allowing us to progress our Glaucoma program into Phase I.
https://hotcopper.com.au/threads/ann-chairmans-address-to-shareholders.6416051/
23 18/11/2021
Investor Webinar Presentation
Q1 2022
H1 2022
https://hotcopper.com.au/threads/ann-investor-webinar-presentation.6430019/
24 02/12/2021
Investor Webinar Presentation
Q1 2022
H1 2022
https://hotcopper.com.au/threads/ann-investor-webinar-presentation.6464177/
25 23/12/2021
Positive off-target safety assessment of EmtinB
another major step towards achieving the landmark milestone of starting first-in-human Phase I studies in the first half of 2022.
https://hotcopper.com.au/threads/ann-positive-off-target-safety-assessment-of-emtinb.6508037/
26 07/02/22
Successful completion of key studies in lead up to Phase I
Having previously completed all necessary nonclinical safety studies for its neurology safety program, conducted in accordance with Good Laboratory Practice (GLP) standards as required, NeuroScientific is in the final stages of collating the data from nonclinical GLP toxicity studies to confirm the safety and tolerability of repeat doses of EmtinB™ in animals prior to commencement of first-in-human Phase I clinical studies. This data is expected to be reported in Q1 CY22
https://hotcopper.com.au/threads/ann-successful-completion-of-key-studies-in-lead-up-to-phase-i.6571814/
27 24/03/22
Company Presentation
H1 2022
H2 2022
https://hotcopper.com.au/threads/ann-company-presentation.6658289/
From going through the above I came to the conclusion, whilst acknowledging the effects on Covid19, that:
- Matt and the BOD are incompetent and/or
- Matt and the BOD have intentionally deceived shareholders with regards to start dates of trials
Let me also clarify a few things from my CPA studies
- Directors primary duty is to shareholders - I do not feel well informed, do you?
- Directors have a duty to act in good faith with the corporations best interests - why do they keep pushing out timelines, it comes across as unethical that every quarter they continue to push them back by a month - why so many delays?
- Directors have a duty to remain informed about the company operations - is Matt incompetent? Some of the timelines he has put up over the last 4 years have been revised so quickly, if in fact he is acting ethically, how does he not know all that is required to start these trials in the indicated timeframe?
Until now, myself included, there has not been enough emphasis on management missing deadlines, we have become a part of the problem as we have allowed this to happen without holding management accountable. It is because of this I recommend the following to all shareholders who feel misled like myself, and who are unhappy with managements performance
- contact management ([email protected] or + 61 8 6382 1805) and ask them for an explanation on why trials have not started, using any reference from the above table. For example, on 30/08/2019 they said they would progress the technology into human trials at the conclusion of the safety and toxicology programs which are expected to complete shortly - how is it possible that trials still haven't started 2.5 years later if we haven't been deceived or they are incompetent
- VOTE NO to the remuneration report when it comes time to vote, I cannot stress how important this is
Stop accepting mediocrity. Fair enough if you think I am as much an idiot for investing in the company in the first place.
