While many are going to disagree with a number of my viewpoints, that's ok.
The below is my own thoughts and remember, we all have differing thoughts...we need to try and be civilised about them how we debate and discuss them even though emotions are high.
Don't for a minute think I'm not in pain and Im staying well away and aloff...I ain't Insto....I'd love to think I am....nope, Im fairly mum and dad grade...more dad...
I'm nowhere near as diligent as mum!
CONSYeah there are a few of these
I like
@Babba kinda feel guilty that I didn't listen more to the negatives, many on here flagged quite early on that we needed a Chair and a separation of roles...an independant one...we needed leadership....we have gaps.
Each and every flag was really a warning....
What could I have done? Well prob more than speak to the company..I prob could have badgered them more...insisted a bit more...investigated more...
I did concentrate on the sci as that drives me neurons to fire up...the corporate stuff...mmmm not as much...but at the end of the day, you need two sides to a coin.
So for that, while I shouldn't feel obligated...I still feel there is at least some onus... I do think in hindsight I would've tried to flag it earlier and more loudly...well at least taken it more seriously.
We had several warnings and not just in one role....
CFO
COO
CEO
These are all big roles, these are all red flags...these to date haven't been filled.
The governance and the attention these roles command are at least as important as the product, the science.
There were a number of you, too many to mention that flagged the warnings early...and now it has surfaced. We may not have been in such a position if these were suitably escalated earlier.
Yes a big thing that made me mad and sad was that shorting action...I don't know what and who and how...but I know that its unacceptable that we keep cycling through that...it happens to us when there is good news. Some of that is natural and cannot be avoided as we are a small listed co....but through better governance and a decent vested interest..this can at least be somewhat mitigated. It will happen less as we get bigger and liquidity increases...but enough is really enough.
No more of these lousy cash raises going to the same parties. That is over.
PROSOk despite the Cons..and they are serious Cons...the Pros are a good read..bare with me.
The sci is good
The trials are good....the general staff are wonderful...I have met a number and they are a joy.
Just to socialise and speak to them, they are angels and so hard working.
If there is a resolution that points them out and rewards them...I'm voting YES to that one.
PAUL
Is the coast clear? Am I getting tomatoes hurled?Ok this is my personal opinion...remember that. Don't throw anything at me for my own personal opinion.
I like Paul.
What has he done? He has had the risk taking profile to create the Paradigm Company.
NO ONE IN AUSTRALIA had the fortitude to start and take a risk with his own capital and believe in Pentosan for Humans via SubQ admin. For this, I will always be in awe.
Paul went to Bene and they worked together to create a link between companies...from there, well we know the journey...
Let me drop just four names for you and a fifth bonus...
FELSON
KRAUS
SCHNITZER
GIORDANO
and the fifth bonus,
SKERRETT
Mozz, you are develling into the science again mate.....
No I'm not, I'm using that as an equivalent example....
I want such great names/talent/quality on our BOARD..in our CFO position, in our COO position.
As much as we have done wonders in our science departments...as much as we have wonderful Clinical and Reg teams...and the USA Staff...we now need this excellence on our Board and in management areas.
I believe Paul needs to remain doing what he is best at doing...getting these clinical programs on track (well, maintaining them)..and focus on that side for sure. He and Donna have deep skills in those areas. We do not want Paul or Donna to leave, like EVER.
While we are talking about quality staff, I must mention Simon. Again, I cannot here state how much this guy has worked for us. He really has gone over and beyond. I not very often wonder if I could do his role, I don't think I could. Mozz hours aren't as long as his. They have been under such pressure to get announcements out quickly and professionally and field a million questions and emails...and then work on all the normal stuff as per usual.
But I'm not blind and deaf...Paul needs help in my opinion...to take us from micro to small to medium cap - that is the priority behind the scenes. This is a big step...nothing against him, but he doesn't have the bandwidth and nor should he...why detract him from the brilliant skills he does have...getting the right people in for the job , people with quality skills AND A SUPREME VESTED INTEREST SO IT ALIGNS WITH OUR (as shareholders) GOALS is what is now needed.
So don't think by me remaining quiet in the last few days that I have given up or lost interest.
That is not the case.
These things take time..but it is not lost on me. I have read every single post over the last few days and have a sense of the common themes.
I am not all words and no action. It's just that it will take a little time to see results, for this, I can only offer faith for the moment...have faith that this issue isn't going to be swept under the carpet....
Even though I'm a full time mum and dad investor...I have flown to Denver from my own money to meet the world's best in OA to verify what we have is real. I have spoken to Par...I have asked more questions and over a longer period of time than most. Im luckily in touch with a great network covering different areas...I have worked most nights (and a few lunchtimes (shhh keep that quiet) on research and finding out more about our molecule or competitors or some legislation/issue that Anchor Man and Man from the West are often bugging me on (keeping bugging and challenging me...debate...discuss...think...make me think) ...but of course..more can be done ...and specially on the corporate side.
This will be a focus...
For anyone new to us....mate, you are picking this up at a bargain.
A few lowlights & highlights for the uninitiated...
See, I am trying to be more all rounded..
Lowlights first
1) 2 x 2 we need certainty...yes the co is confident, I like that...what I would really like is for the FDA to like it.
I think we should be ok...but we need to wait
2) Market Forces - its rough seas out there, with not one but two wars going on...darned inflation still being stubborn...Bio Purse strings drawn a bit too tightly...but at the end of the day, if PAR keeps kicking goals and milestones...this won't be as much of an excuse...you will strike a deal...
3) Resolutions, tbh I haven't had time to read them all in depth...I'm hearing what most of you are saying..Im not happy either...Look ever since I was a boy doing casual jobs in Year 9 and onwards...I always wanted to do the work first and THEN get paid...
Getting paid before the work doesn't sit well with me, is that old school??...I don't know about you blokes (and fine women) but Id rather see us score a HUGE &*$#@+/> deal and fill up the PAR coffers with sh!tlxads of cash...pay some sort of semblance of a divvy and
then ask for a decent performance bonus... I'll be the first to vote yes then.
Highlights?
1) MPS results within a matter of 4 or so weeks?
Could be the best darned results all time in this space, we...YES YOU AND I...are running the largest EVER human clinical trial in MPS with iPPS in the world's history ...the program is broken into age straum...this could be prolific...I want to see that GAG reduction in those young children...this will have incredible ramifications, perhaps behind the scenes at first...but watch this space
2) FDA discussions...it's creeping closer...what will the FDA think of our two last sets of data release?
3) TGA application...
4) Deals...
I think we are getting closer...none of us like dilution, that made my stomach ill on Sunday...yes Gans I lost a lot in Cfd's...Yes Gans I had to transfer cash to bolster, it was ugly...when they gap down...it's not pretty...my fault, I knew the risks.. it's another flag that we need better forecasting and budgeting and tightening up...
Any potential Pharma party wants to ensure we are solvent before even beginning to think about coming up with a deal.
Look, what is done - is done..let's move forward now and make sure we are impervious to such events....
4) Surprises
There have been a few in the past...shorters? There will be more surprises to come...
There is green coming after a fire...We do have a ways to go...you will at times wonder what you have invested in...will we ever break out...whether we can 'make it'...why has it gone so quiet and why are we (SP) channeling so much...I too have felt like we have had a forest fire rip through us...and as a consequence some things
will change for the better...just give it some time for the green shoots to appear and in my personal opinion...keep the faith if you can.
DYOR
Mozz
(20min delay)