The prospectus is dated 24 September 2021. The information in it is outdated because of the passage of time since then and LIS should have subsequently properly updated the market on technological developments (as its peer companies are in the habit of doing). It should do so on a continuous basis. It has not done so and it is not doing so and LIS management is erring in not doing so.
Generic comments on its website about the benefits of lithium sulphur batteries have nothing to do with my point that LIS management properly and consistently provide updates to its shareholders about the progress of the Company, which ultimately, means the progress to do with its specific underlying technologies. LIS has not provided any serious and substantive reporting on its technological progress nor benchmarked the performance of its technologies with the other leading companies in the industry. If it does not undertake such performance benchmarking internally I would contend this would constitute a dereliction of duties. I cannot imagine that it does not do so. If it does such internal benchmarking yet then chooses not to disclose this information to its shareholders - the owners of the company - and of course without compromising its intellectual property - then in my view LIS management would not be properly fulfilling its duties to shareholders.
LIS and PPK management have a fiduciary obligation to its shareholders to properly report on the progress of the fundamental value drivers of the Company. This should properly form part of its continuous disclosure obligations to the ASX.
You raise the points that if it were to properly disclose information that it would be laying their cards on the table for all to see and providing advantage to its competitors and hurting its own competitive position by doing so. Nobody should be concerned at any of these so-called risks. LIS is trading below its IPO price of 85 cents and that can only be called a significant failure of the LIS IPO. If PPK and LIS management are content that the prevailing share price properly reflects the value of the Company and that it rightfully should be priced below the IPO price then so be it. If on the other hand, given all the progress it reports upon (albeit that still being incomplete) in its its Quarterly release and which others on this forum claim, I would like to ask LIS and PPK management to fulfil their fiduciary duties and to have the value of the Company properly reflected in the share price - or at least make the attempt to do so, even if they are unsuccessful in the attempt. It is one or the other and LIS management should make clear which one it is.
LIS Price at posting:
77.0¢ Sentiment: Buy Disclosure: Held
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