But at what cost
@room10? Opex expended and more than an 85% fall in the share price.
Shareholders have every right to be pi$$ed off at management, the board and the chairman, accountability goes right to the top.
To find ourselves in this position after a year of 'achievements' is nothing short of a disaster!
It's obviously too early to tell how Jennifer is tracking in the business, hopefully with the Illuminate product being live from October to coincide with Mental Health month, we can see some news flow and contract wins from the Corporate division.
In the meantime the Board and acting CEO need to get the business back on track, prove to the market that the business is progressing towards its milestones and give shareholders a reason not to sell & support the company & just as importantly, the broader market a reason to get back in and acquire shares in the business.
I have had a number of calls from potential investors in the business ranging from fund managers to brokers all keen on building a position in the business, however they need to see clarity from the business on a couple of issues before hitting the 'buy' button and to be honest, who can blame them.
This current period of instability within the business has been woeful for shareholders, staff in the business, clients and potential clients of Medibio. I hope the business can find a suitable CEO to take the business forward, restore market confidence and execute the milestones!
