Vote of (absolutely) no confidence, page-16

Who needs propaganda from shorters when you have BB on your side. A terrible piece of communication. You think the fact  you couldn't get it underwritten, is a bad enough sign on the appetite for more LBT shares in the market. But then you come out with this inspiring piece with no justification except 'we remind you we had a joint venture and we wanted to accelerate PD'. Well firstly, it wasn't accelerated, that was the investor expectations (rightly or wrongly). Secondly, why didn't you let us know you only half funded the development/commercialization at the time. What else are you keeping from us that we now need to put our 'paranoid hats' on to work out? FFS

My gut feel was right on BB. A sales executive etc at Cochlear where a product is best in class, well established with regulatory approvals, is about a million miles away from what was needed at LBT. No final product, no market acceptance (he's now calling it a niche market - haven't seen that term before), no final regulatory approvals, JV partnership negotiations ongoing. I've seen it before; the big company sales exec only involved in sales/marketing supported by a full company infrastructure come in thinking he can run a product development company at grass roots with no experience. Well, shareholders will be paying for his uptraining. Any monkey can increase sales in AP for COH. Boards are lazy and think its safe to appoint big company execs thinking 'we will be that size one day, we need someone with that background'. That maybe 20 years away, in the meantime we have a huge mismatch in company needs and actual skills.

Just popping on my 'paranoid hat', I already see this beauty: "...there is no identical competing product". What not use a more general term like 'similar'? Of course there is no identical product. That is true of almost any medical device. The marketing guys spend their whole lives looking for any differences in identical competing products to help their marketing. My point is that there maybe by very similar products emerging at these shows which has reduced the potential market size to 'niche'. I don't know, as I don't attend shows, but I am suspicious and I don't expect management will be forthright in enlightening me.