Hello,I am one of the largest shareholder within the top fifty...

Hello,

I am one of the largest shareholder within the top fifty shareholders.

I was at the AGM. I believe that everybody cannot really articulate well. It was wrong to assume their silence as support for the present sorry lot.

I am for one was not. I asked a few questions just to get the feel of the management mentality.

I found that they are very well educated in the standard mis management at maximum cost principle of mis management.

At the same time the fault lies with the shareholders as well. If these mismanagement types are not working to take care of the shareholders investment, then the shareholders can kick them out and replace them with whoever is willing to run the company better. The cost is A$650,000 to pay out Peter Crosby.

As investors/shareholders we can delegate the power to run the company but cannot delegate our risk to those running the company on our behalf. Investor risk should have been the FDA approval not this hanging 'Sword of Damocles' - when the company will run out of cash to run its operations.

Obviously these mismanagement types have magnified the risk in this company. Time for the shareholders to do something.

My estimation is that if serious wastage reduction strategies are put in place this company can actually return handsome returns not just survive with only the cash at hand at the moment.

Is there any other serious investor/shareholder in this forum willing to support notice to the company to call a new meeting to vote on a resolution to remove the present sorry lot and replace with three directors from the shareholders that really care for their investment and run the company with tightened belts.