Thats part of it...it is taking forever to get full...

Thats part of it...it is taking forever to get full approval.

Here is another reason. From the Australian

The Australian March 26 2008

Quote

Ventracor bale-out

VENTRACOR chief executive Peter Crosby might as well have donned a bogyman suit when he unceremoniously dumped two thirds of his shareholding in the company.

The news, delivered after the market closed for the Easter long weekend, certainly spooked some of his fellow investors, who reacted by heading straight for the nearest exit.

Crosby, who earns more than $650,000 a year running the medical device maker, collected more than $272,000 from his sale of 750,000 shares. Perhaps the French chateau needs some renovations?

Unfortunately, there are some more pressing bills that require attention. According to the executive’s note to the stock exchange, the sale was to partly cover a tax liability form last year’s conversion of 1 million performance rights.

So it’s a shame that Ventracor’s share price has fallen so spectacularly. At the time Crosby acquired the shares they were trading at about 80c. Yesterday they closed at a record low of 32c.

Crosby agreed the timing of his sale could have been better. “Being a director there are only certain times of the year that I can sell. Did I want to sell at this time at this price? No, but I had no choice.

It seems that he’s not the only one. Crosby reckons quite a number of retail shareholders have been forced to dump stock in recent months due to margin calls.

Unquote

Seems as though he is clutching at straws. Dont blame margin calls, blame yourself. PR is dismal, implants are slow, cash burn rate is not good, management are getting freebies and getting paid to much at this point in time, no substaintial holders....the list goes on and on !