I have been thinking a lot about FGR & thought I would open up a thread to discuss how FGR is traveling.
This is an amended post & I hope to glean thoughts from fellow FGR shareholders on how we may contribute to its success.
I share much frustration with FGR's past 14 month's performance. And I think I grasp the magnitude of the many problems within a new industry like Graphene.
However; Can we keep excusing "errors" that many of us in other jobs would likely have had us severely reprimanded &/or terminated. (And certainly not rewarded with 3M free FGROC's or a similarly valued product).
The FGR 'Break-even by 2019 end call' has caused much confusion;
Has it contributed to our current Sp/MC?
Some say it never happened. Some say downloads of such are held. Some say the recording's of an AGM denial on such are held. To me, this is secondary as I have heard directly myself on such. And my recollection is very clear as I shall mention soon.
The recent large CR is challenging for even the very experienced investor to digest.
That this may be financial prudence or company mismanagement, I am not qualified to judge.
However; The lack of clear communication about this & other issues;
"Is an issue" We FGR owners are all qualified to judge I believe.
Within the opacity of FGR's mixed & often poorly written communications.
We sift through the ASX Anns, FGR website & tweets to find grains to analyse for ourselves & possibly share to decipher in 'what it actually means'. An example is listed below on the SSA appointment.
Is this an acceptable way for management to communicate with its shareholders.
Cannot management be more specific or at least indicate why information is withheld. Rather than the overused NDA (which as I have mentioned is a two-way legal street).
I mentioned an alleged contradictory stance by the FGR BoD to 'under-promote & over-deliver' then allegedly turnabout and break such a forecast 'promise' of break-even by 2019's end'.
A discussion on this issue alone is clear as a man's word still carries weight with me.
Then; AGM 2019 FGR the BoD ask we shareholders for & are given bonuses; Why, I do not know.
I alone held approximately 20% of the nays for the 2019 AGM FGROC's;
Not to be granted to the Executive Directors.
Then: Pursue a large credit rise with a base of the devastating global pandemic as some rationale (that a 'life-boat' was well-prepped is open to debate).
Then very good news of a highly significant sales agreement arrived.
The market was like an electric pogo-stick with enormous amounts of newly minted money (quantitative eased) hitting it & we didn't even rate a blip on its radar.
Why? That is one question we all may think about.
Number one for me is;
The confusing & poverty of clear communication from the FGR BoD & lack of clear explanation of what went wrong & how it is being redressed.
Or quite simply; Why would anyone trust this company's word again if in fact "Trust" has been breached & proven.
To continue, I offer a few more things I seek clarity on;
The 'rapid' execution of the PlanarTech sales agreementhttps://firstgraphene.net/wp-content/uploads/austocks/fgr/2020_05_26_FGR_4df2cc61c165e7818a21db2d521f7d7d.pdf
Had me asking myself several questions one of which spid mentioned yesterday at 1410hrs. https://hotcopper.com.au/posts/46320518/single
May 2020 was several months into Australian recognition & response to the CV19 pandemic.
It is regarded as a 100-year historical health event & will not pass easily.
The economic consequences have the World in unchartered territory.
One example highlights questions for me;
The PlanarTECH team, chaired by Ray Gibbs (well known for his commercial experience in the graphene industry). Approaches FGR to acquire our PureGRAPH10 to make much-needed reusable graphene face masks for the CV19 pandemic. Made overseas to select overseas countries for purchase.
I found myself wondering at the time did it occur to HQ within 'negotiations' to contract a return supply of the then-groundbreaking graphene masks (to be available as a priority) for return back to Australia as much as could be supplied or needed.
Could I assume per Planartechs tweets that very few graphene suppliers could match FGR for quality, size & speed of delivery?
Hence; Did we possibly miss a huge advantage within the negotiations. I am not privy to the details & will assume HQ has many reasons why such 'could' not be done.
And remember guys, this is not just about economics. We are also talking about basic human morality here. With the added benefit of our FGR brand/graphene/logo being made vastly more known domestically & overseas a side bonus.
FGR has rare NICNAS approval to sell graphene/products within Australia (let alone accreditation within other countries, that is another issue).
FGR had funds & was preparing to secure more money.
Did FGR have any insight into this great potential & likely looming opportunity/assistance as just one example of savvy direction? As PlanarTECH are now advising said graphene masks are moving from a functional use of up to ten washes to now over 50 washes.https://t.co/haWy6RxLEC?amp=1
I imagine an entrepreneur holding such 'cards' as FGR held back then may well have been an Australian household name 'soonish' with the World "Their Oyster".
And an admission of an error or even a written explanation from the FGR BoD in my 3.5 years of holding will be the first I can recall.
A few other issues I am confused about are;
Is why the Firstgraphene.com Domain was not secured; http://www.firstgraphene.com/ ($10USD or about one week's pay of our two Ex's).
The LSE/AIM expensive mess, Traxys, Sri Lankan mine failure etc;
I could continue; Though the important things I am getting to is that I am very pleased that Dr. Andy Goodwin has come onto the FGR BoD.
The lack of clarity on his role as a Non-Ex Director and SSA precisely means is another mystery of the FGR communication technique for us to ruminate upon.
Could assume that AG is now a 'part-time consultant', or is this false.
And guys I hope I am wrong in saying that in my experience, HQ will not give a lot of thought about whatever is discussed hear (accept for direct allegations).
Most of the 'good to great ideas' that are floated by diligent researchers shared here seem to reach deaf ears or seeing eyes for whatever the unsaid reason.
Some talk about change for the BoD. Nearly impossible imo given the share register & the present guard seem intent to stay. Another thread in itself.
Why they do not get a Top-Gun proven, educated, visionary CEO baffles the heck out of me. Some time ago I was informed that such was being sought. That was some time ago.
If such a leader were acquired they win, we win & "we all live happily ever after" lol & the FGR story may well very continue for generations if managed correctly.
The good news is that despite my protestations & doubts I still believe in PureGRAPH & its "ability to sell itself".
Though just getting that news out seems huge problem of the Ex's & Co.
To my knowledge, they have secured little work independently. I think most of our successful work sought them out as far as I know. And I imagine the new MOU's contacted Perth first? Happy to be proven wrong.
It would also appear conclusive that prior 'marketing methods' need to be accepted as time-wasting failures & new methods DD vetted & adopted.
If they fail, you fire them & move on.
Fail fast & learn fast seems lost on too many at FGR I fear.
That the field of fiberglass/graphene composite being opened alone is outstanding.
Carbonfibre/graphene is in testing I believe.
G/Concrete will get its day. Firestop hopefully. VFD has amazing potential. G/Elastomers is happening, G/Supercapacitors & products & uses yet to be thought that may be of enormous benefit to the World & can happen with insight & correctly directed concerted effort.
Of course, graphene may turn out to be more disappointing than discovering Santa is not real, but hey that's the nature of specs & we buys our tickets.
And right now unfortunately for we holders, they are insanely cheap.
So FGR holders, if you have any thoughts on how we may help make FGR a commercial & viable assistant to our World, please take the time to share them.
Cheers,
Greg.
FGR Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
