My sentiment has changed with regard to management only - let me...

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.