If I remember correctly this company had touched the highest historical price at $0.75. Now is $0.005.
This is the performance in the interest of the shareholders and $70 millions of allocated capital made by this management.
Dr. Bridges and Tim Hughes seat on this Board from day 1.
Chris Behrenbruch was supposed to be the star of the game, with hype and glory, to show that even him was not able to understand that this topical technology was just water. This is a big question on his capacity too.
The rest of the Board is acting like ghost in the air. What do they do?
Previously, the Board had paid substantial money to Dr. Mercer and Dr. Bridges has had its share of the cake of this $70 millions too.
They all say that they act in purity and innocence but, the morality and the doctor to patients approach that all is made in the interest of shareholders, seems in the evidence to be like a deadly poisonous chemio given to a terminal cancer patient. We have been poisoned and betrayed, by whom was supposed with rationale protect our investments.
We have lost all money, this is OK. Biotechs are risky. Some of us have been taken down to sheet and will pay in their lifetime a bad capital allocation. But this was a QUT project and the university was paid substantial money to benefit in the R&D from our money. How was possible such a failure from a university? How was possible that a university was driven to think that practically a saline water solution was to be a cure? How big are the QUT university and Dr. Bridges (acting on behalf of QUT university) responsibilities in this catastrophic project financing?
The incompetence shown by all here is just too much to digest.
A new Board maybe can direct this company to a better future. Maybe not, but seeing what the current guys and gals have done to this company, little is left in the trust that was reposted in our wallets entrusted to them.
Money could have been managed more wisely, instead to be spent in a project that was not more valuable than water.
Harvard would had taken a much more professional approach to avoid similar results. This project has shown by this Board in the years a lot of arrogance, denials, distorted evidence, fake idealism, illusions, the building of stories too good to be true, the relevance of playing with shareholders balls, the legal stealing in the interest of few people and of a university of public money.
In Japan this Board should bow in front of the shareholders and excuse itself.
This has been a Kerpelis bitcoin type entrepreneurship project.
Bye, Bye FTT, that new people raise or finally kill all. They soon will show their true intentions too.
FTT Price at posting:
0.4¢ Sentiment: None Disclosure: Held
