shareholder votes by their feet., page-9

Yes. I agree PC is the great poison pill. He came to Biota after prevous failure, not after success in the other company.

Can anyone see where PC fits in the management team of Biota? a CEO with great business capability or a great scientist? I don't think PC fits any between those. The company has too spend millions on advisors' fees to negotiate with outside parties. That is probabally why the US listing is termed "very expensive" to Biota. I am wondering how much those companies, who raised, say, only $10m, have spent on the fees for listing on Nasdaq?

Biota has well-paid CEO, CFO and Business development managers. Ok, I know we can't expect them to work as those owner managers of some companies. But how can they keep collecting cash bonuses and free share options as if they have created great shareholder wealth, while it shows that Biota shareholders wealth is dinishing?


The recent Shareholder Update letter sent to shareholders also looks like nothing but a remind to shareohlders to sell their shares if they do not want to hold Nasdaq listed shares. They could have included JF's recent interview script with the letter if they really wanted to call for support from shareholders regarding the merger. The letter does not say anything about how Biota will benefit from Lani ROW with the funding, but only said "The contract is worth up to US$231 million as Biota meets the key milestones over the next five years", while it has been more than one year since the funding grant. In a word, the management again failed to use the Shareholder Update as the media to give effective PR for the company.

Hope this is just the short-term pain for the long-term gain, as JF implied in his recent interview.

Good luck to all brave long-term holders.