Thanks for your balanced, intelligent comments. I have an investment in this company which many might scoff at, but while maybe not in the billions, it represents a significant total cash investment to me and that I can ill afford to lose. I am in a position to invest another $10k or $20k if I feel that the future is different to the 10+ years of my investment so far.
You said "the value of all our holdings will dramatically increase as soon as Kosenar and FactorX are provided with satisfactory answers". I don't believe that K, myself or any other poster here have that much influence! If we did, things may be different. However, it would appear that the questions we are asking require answers and that the big investors (certainly I am not one) will be asking the same, or perhaps more, questions. The fact that the big guys have walked away from this company for years and years suggests I am a mug for believing that the guys who have been in charge for those years will make our valuable IP realise its potential. And now we have Mr Goodall, who has a serious amount of investment and has been a "white night" investor on the board. And has he increased the level of coprorate governance? In 2011, a year in which there was no significant announcements of new ventures, there was 80 announcements, of which 70 were before the 1st November. In 2012, a year in which so much has apparently happened, including the beginning of processing by PRIME in Singapore, the spinoff of PRIME, a new investment by a Chinese entity, we've had 52 announcements. And not a single "Shareholder Newsletter". I guess with the so-called "rebels" gone and the share registry now controlled by the board or their associates, there is no need to "inform" us or "propagandise" us or even ask us for money like they have year after year after year. Now they just give the shares to themselves at a 30% discount. Nice work.
Let's agree on one thing, the 10+ years that these guys have been in control, from Gradipore though PRIME, they have never ever had a single successful (i.e. return of money to shareholders) business. They have however been successful in other ways which have not benefited the shareholders of their companies.
You also said "...and while I'm not making any allegations, I would much rather see the Board own up if they have made mistakes rather than continue to obfuscate and inevitably draw out these distractions from the investment potential of NuSep." Not that you suggested I did, but I have not made any allegations, other than "we've not been given reasonable answers". Now, the past auditors, who were summarily sacked, did make some startling allegations which have, to date, not been answered. My guess is that you are right. If a few mugs like us are asking these questions, the smart guys are asking even more and they simply say "it doesn't smell right" or "the management's track record speaks for itself" or WORSE. And that scares me. The share price is up from the lows of the year, but is still down on every AGM since NuSep existed. If http://nusepboardreform.info/pricehistory.html is right, then were down 99%+ and down 30% from the high less than 1 year ago.
No ownership by the board/management of the history suggest no ownership of the future, unless it is hugely profitable in which case we'll possibly see none of it.
The spin off of PRIME reminds me of the spin off of NuSep from Gradipore (of which I was a shareholder) or whatever it became eventually. It was a lot of smoke and mirrors and a lot of undisclosed dealings which negatively benefited shareholders.
Now I am not sure where RB has been going lately, but his comments have seemed to increasingly been those of "a beautiful mind". It's a shame because he has degraded all of his positive contribution to this forum from days gone by. If he continues with this track and represents the champion of this company we're all F____ed.
Finished. What did you think I was saying?
MEM Price at posting:
8.7¢ Sentiment: Sell Disclosure: Held
(20min delay)
