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MEB

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0.9¢ medibio limited

I think Jack had a plan... and it got derailed... Their income...

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skorpian

707 Posts.

43

27/09/18

14:50

Post #: 35884391
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Originally posted by druce ↑

Originally posted by 13th
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!
Unfortunately they also need to raise money post the massive spend up from Jack and his influential board mates! Not opportune with a share price rapidly going south.

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I think Jack had a plan... and it got derailed...

Their income was to come in from the October Mental Health Check In and the corporate work that Peta had built up. Jack would have known how much that bought in from Vital Conversations Australian programs... I seem to recall they did about 5000 assessments just in Australia... so take that to the USA, put Phelps and Kennedy behind it with their contacts and huge potential.

A lot now rests with Jennifer to pick this up after MEB sacked Jack and lost Peta. Any loss of other staff with all of the corporate / intellectual knowledge of running the check ins would be an issue... That is no easy task for Jennifer - but there is still the potential for cash flow.

MEB Price at posting: 6.0¢ Sentiment: Sell Disclosure: Not Held
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I think Jack had a plan... and it got derailed... Their income...

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