Ann: Chairman's Address, page-21

At MVF, four senior doctors and embryologists have resigned in the last three years or so. The Chief executive resigned last year after 8 years in the job. In 2015 a third of the company's fertility specialists wrote a letter to the company criticising the company's culture. This year the replacement for the Chief executive (the 8 years in the job guy) also left. So although the cash flows and the P/E's look quite OK, these issues caused me to sell about 6 months ago. I admit that the share price at around $1 seems like there's some safety built in but it's also the case for VRT at its current price and they haven't endured any controversy in recent times.