This is the email i sent to Rob on Jun 17th. Still no reply. All still valid points i believe. A bloody shareholder newsletter restating exactly what we all already know is of zero benefit to anyone. And with "staff costs" at ~$350k for the last year, someone needs to start earning their coin!!:
Hi Robert,
I'm a very minor, but nonetheless frustrated shareholder of PTX.AX. What is happening with the current share price?? No-one, not even those from the CR at 0.5c (pre-consolidation) can be making a profit selling at these levels. Are you aware of who is doing this major sell down?? An institutional investor from a previous CR?
The SP is now down ~70% since the poorly timed consolidation. I believe that consolidation, at a time when the SP looked to be finally gaining some ground or at least stabilizing at ~1c, is largely responsible for the fall in the SP. It was unnecessary at that juncture. Further, the flagging of a planned CR more than 6 months ahead was one of the craziest things i'd ever seen. Of course those with the share-holding power (Instos) will sell down in anticipation of the CR. A CR at these levels (70% reduction on consolidation price) is just offensive. Can you please indicate whether and when this is planned to happen?
Also I notice,from the lack of buying and absence of 'change in director interest/holding' statements, that there has been little to no on-market buying from any of the board or anyone on the payroll. Yourself included. If you all believe in these products so much, stump up and put some of that hard earned cash back into the company.
Being from a biotech/research background, I can see the potential of these new products (and the Co-X-Gene technology). But none of this will get off the ground without the SP manipulation being pulled into line and some demonstration to the market that you guys that run the show have skin in the game too.
All the best with the progress of the clinical trials. I'm watching closely and hope for a better outcome for shareholders going forward.
Cheers,
Bottom draw special. GLTA SHs.
PTX Price at posting:
6.5¢ Sentiment: Hold Disclosure: Held
