Ive been a strong supporter of the company sine 2008, heavily invested, and remain so, however my frustration is growing, and this announcement is making me reconsider both my future with the company. I suspect it is the same for many a large holders right now, and I also just need to rant.
Here is why:
Several months back, I posed several key questions to Glynn.
Those questions questions were yes/no required answers, specifically on the future of the company from a overall success perspective. None of the questions would have required NDA signatures, and were generalized regarding the company, its a lengthy amount i sent, so i wont post here.
Suffice to say I posed the main concern that frustration was building among both holders and supporters and needed to be addressed.
I stated the fact that i have watched OBJ to date existing solely on "promise and potential" for near enough to 10 years. I have read thread after thread on here for more years than i can count. I like so many, know what the company CAN do, and after 10 years, it now NEEDS to do. Its promise and potential are amazing and even proven, but no "company making" commercialization has occurred to date, and that a general limitation would exist in holders minds for how long that things could last without.
By "living on promise and potential" I mean this; Just as perpetual motion does not exist, perpetually propping up the company on the back of "promise and potential" announcements is reaching its limit. More patents, agreements or licenses are just being dismissed by the market as "yeah, yeah, heard it before", and 2cent traders are playing with the share price like a rag doll in response. I believe what has been achieved to date is outstanding, but it has not been recognized by the market, nor will beyond this point.
The end result was that I was not provided a suitable answer to my questions by anyone from OBJ management, and had to chase for weeks to get a simplistic answer, which suggested my concerns were not seen as credible. In fact, it even solidified my "prop it up with promise and potential" concerns, by the short response I finally received of the very same nature.
I believe we are at, or nearing, the point where "promise an potential" is exhausted, based on the share price breaking hard downward, along with the sentiment of most holders.
This announcement has lefty me very concerned, and see it just like the last 10. Something else to just prop things up again, and perpetually carry the company on the back of "promise and potential".
I stated to Glynn very clearly I thought the extensive period already of exclusive "R&D" had to end ASAP, and commercialization had to begin fast, or both the competition and investor sentiment could see the company placed in serious jeopardy.
Now I have yet again another "promise and potential" announcement in hand, and forgetting its legality, I'm asking myself these concerning questions on its general connotations" 1. - is this to say that in over two years time, the price as expected by OBJ management will be essentially no better that the highs of the last the last 5 years? 2 - That by December 2018, the revenue stream will either still be dry? 3- Is it another two years of just "PROMISE AND POTENTIAL" to keep it all afloat for them"? 4- if any of the above are true, why remain in OBJ? Without insider knowledge, no one would under those conditions. You don'1 invest 1 dollar 1 year ago, only to have it still be 1 dollar in 3 years., its a loss as it wont even cover CPI. Who the hell would invest anything? If so, how long until everyone starts to pull out? Is that happening now?
Things need to get moving quickly. Extensive commercialization needs to become a reality fast, 2 years is ridiculous. The extensive R&D time already is enough. We know it works, we know what it can do, now get on with making it a reality OBJ. At this rate it will take 30 years before the company "launches" so to speak. Products and revenue need to get flowing fast. Without it, the sentiment will continue to drop, the Partnerships will dry up, competitors will flourish, and the perpetual "promise and potential" machine of OBJ will halt.
If Glyn is reading this, my prediction is that if the "Promise and Potential Prop" cycle inst broken with suitable news and or income by 31st December 2016, things are going to get very ugly in 2017, where I see a lot of "promise and potential" for money, management and directors facing banishment out of OBJ. It will be an exodus on many fronts, the board will go, and they wont be there to see the 2018 "promise and potential" results.
To alleviate my frustrations, I would need to see this announcement amended to identify the Average weighted share price should be 35c (match ABDM's call, which I still believe is a very accurate target), and the time-frame needs to be By July 31 2017 (New financial year).
Frustration is building, 10 years of faith for holders is enough. End of the line. Company needs to make or break in 6 months I say, this cant go on anymore.
I'm happy, and even hoping, to look like an idiot, should a company making announcement come out anytime soon. But I'm not anticipating anything given the kinda rubbish announcement I'm reading here.
End Rant.
All IMO.
OBJ Price at posting:
6.9¢ Sentiment: Hold Disclosure: Held