time to perform mr. hanley

Dear Mr. Hanley AO,

Your past efforts and success in making serious dollars is without question, however, with CathRX you are in a different situation.

The company is to delist and the promises of great progress have dissolved into nothing. The company had the cheapest re-useable cardiac catheters known to man, yet it seems the cost benefits to potential purchasers as promoted by the company have not materialised into commercialisation or sales. Mr. Jeff Goodman, the former CEO of the company is now no longer a non executive director.

It appears that you understand that the company is not in good shape and so as an old master you have had to take the reins. Frankly, your reputation is on the line in my eyes. Pharmaxis has hit a snag, although it appears not a disabling one, and CathRX requires all hands to bale out the water of its listing hull.

You alone are the man who will either be the saviour of the company or our own Capt. Edward Smith. I would prefer to venerate your name than condemn it, but you are the steady and experienced hand that can do it, if anyone can do it.

I look forward to some positive news as to your efforts. If no positive news is forthcoming in the new year, it may be that the band stop playing and the bar be shut. For the company and its shareholders have heard enough and endureed enough to at least be given the dignified end they deserve.