RAP (ASX) Valuing ResApp Health

Originally posted by asanque: ↑

I am a long time shareholder of Resapp.

I lost a bit of faith in the management team after the FDA debacle (despite constant assurances that this would be effectively a slam dunk and then further assurances that fixing this would happen shortly - which seems to have just disappeared).

I lost more faith in the management team after I specifically raised the possibility of Resapp being used for COVID testing at a teleconference around mid-2020? and got told that it wasn't something they were actively investigating. In other words, whilst pretty obvious and a good step forward, they were at least one year late to the dance with their latest COVID testing applicability

I was bemused when they randomly meandered by hiring their friend in the UK for a physical device and then wandered off into sleep apnea with no tangible commercial outcomes.

I even sold roughly half my holdings at 6.6c.

Now I have lost complete faith in the management team with this latest recommendation for the Pfizer takeover.

There are just so many other ways they could have done this to unlock value to the shareholder (let alone the constant assurances that no takeover offer under $1 would be considered).

Now we have to fight so hard, just to try to get them to do their jobs properly.

This was amazing analysis and greatly appreciated.

Hopefully the board fall on their swords after this latest debacle, but happy to support any further moves to find more capable people to commercialise this innovative technology.

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Other quick random thoughts and I am happy to be corrected.

I don't recall the board owning significant amounts of shares and investing in their own company?

Just feels a bit like they are screwing over their long term solid holders who believed in the product by choosing to run off to a sexier offer of bonuses and options with Pfizer (who can also help them do their jobs).

I have no doubt that the so called 'independent expert' report will back the takeover, based on the miniscule amount of revenue that the board has achieved to date (i.e. no value whatsoever on potential which I am sure Pfizer will be capable of unlocking).