It's only a failure to constant knockers and or non holders with an axe to grind to the rest of us its a game of patience.
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On another note, did anyone get the impression that the Chairman was either getting over or going down with the flu , perhaps. He didn't look that well, actually.
Not seen an announcement post AGM like this for a long long long time - companies usually just post the results of voting. PEB droning on again about their 'positive' performance (share price down 31%) and $100 million etc. Notice the emphasis now on $100m by fifth full year of trading? Rights issue time in 2013 : "https://www.nzx.com/companies/PEB/announcements/242760 - achieving $100m of commercial sales in the USA within 5 trading years." This is what Cellmid believed in 2013 : "PEB now have continued guidance on a $100m revenue target for 5 years following launch (with news supporting the guidance)".
Keep changing the targets and of course any company run by a bunch of amateurs will always meet 'internal set expectations'! :D
Haha - Chairman was struggling to be articulate? I suspect he was dreading the moment someone asked him about directors' and his 'participation' in the capital raising? Not that it was ever going to happen - only the groupies were there to cheer the directors on to their new internal set targets!
BTW, you notice they have identified Spain (yes, Spain) as a geographical expansion into a NEW market in their presentation?
"Chief executive David Darling said Spanish company Oryzon SA had signed an exclusive licence agreement to market Pacific Edge's Cxbladder - a diagnostic test for the detection of bladder cancer - in Spain and Portugal" http://www.pacificedge.co.nz/news-an...uropean-sales/
Oops - that announcement about Spain and Portugal was made in 2011! Back to the future for the company.:scared:
So for all the opinion you have, you didn't even watch the AGM huh? For your information the question did get asked mate!
For what its worth, the questions asked during the AGM were IMO about 50-50 in terms of +ve/-ve sentiment towards PEB and the directors. Not sure its much point telling you that though mate as you are so full of yourself that you think you have figured it all out without even taking the time to get your facts right.
For what it's worth I attended the AGM yesterday and to be frank I thought it was a disgrace. Right from the beginning when the meeting was delayed because the live streaming wasn't working it was an embarrassment. One would think after last years debacle someone would have done a basic check to ensure both the streaming and the sound gear were working. As it turns out neither was and the audience was left with heads in hands right from the start.
Perhaps enough has been said about Chris Swan but he was so bad I feel I have to make comment. During the meeting I sat there and watched him twitch and shuffle his way through his opening address. His body position literally changed every 3 or 4 seconds, tapping away with each foot in turn. I wanted to give him the benefit of the doubt that perhaps he is just a very nervous guy, but as the meeting went on it was clear he was incredibly under-prepared and that his knowledge of many areas of the business was severely lacking. His bizarre response to the question regarding directors not taking up their rights in the capital raise capped it all off. For some reason he went down the track of suggesting things could have been different if the rights issue had created some value and at the very least directors could then have had the chance to trade their rights....?? The whole way that question got answered was absolutely pathetic to be honest, including the chime in responses by a couple of the directors.
On the face of it Dave Darling actually speaks quite well, but unless he is talking about the product itself or the genuine concern for the well being of cancer sufferers, my take is he is ofetn full of hot air. This was typified in his response to happenings over in OZ and Spain which was a complete joke.
The only shining light was Jackie Walker. She speaks confidently, appears genuinely excited about the product, and seems to know what she is talking about.
Another plus was their commitment to reaching $100m by financial year 2018 and that they wont require another capital raise to get them there. That being said, these (or similar) statements have been made before by PEB and they have either back-flipped or pushed time lines out so I’m taking them with a grain of salt. Furthermore, reading between the lines with respect PEB’s responses to revenue growth questions for the current financial year, my take is growth may even be weaker than last year and they are basically all in on this KP user programme. Without being able to convert these guys to a commercial customer I just can't see how they will even come close to $100m by 2018.
CMS and VA cover still appear to be so far away no commitment can be given on any time lines. We are just "one step closer" on what seems to be a never-ending staircase.
The other thing I just don’t get is given how thinly spread they are in the US what on earth are they doing exploring Asia?
I do believe they have a good product but there is certainly not enough of an evidence base for it to become part of the best practice clinical pathway in the short (perhaps even medium/long) term. I have been told this directly by people with first hand experience with the product, and the AHRQ report effectively reiterated this as well. Moreover, I am genuinely concerned their product may simply be not good enough anyway.
Overall I was embarrassed to be there as a shareholder. I don’t foresee anything in the near future that will keep the share price from sliding further so I am out. There are some massive red flags with this company that I personally cannot reconcile with continued investment.
Time will tell whether this is the right decision and I do wish remaining shareholders all the best.