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OBJ 3.0¢

the emperor's new clothes

  1. BadComputer

    1,873 Posts.

    Im just cutting and pasting Baz Tokyo here coz everyone else seems happy to cop it in the nuts.
    Read betwen the lines of the shareholder update if you will;
    take Glynns emails to put a new spin on the ASX announcement [why it was never inlcuded is beoynd me];
    ignore the proper tax treatment of invoices cf income;
    join in your tag bully sessions of opposing views;
    but ask yourself why do you have find the positives under rocks, hiding in the corner and from other's correspondence with management?

    they knew this 4c would be shot, and instead of taking the time to communicate properly wiht shareholders, just tried to hide it by ann. last thing friday. awesome. oh yeah, but not before edwards was able to dump 6+ million. buts lets gloss over that and focus on what might happen in the future, not what has actually taken place.

    for what has often been a forum where considered thought and ideas have been exchanged i am staggered at how quickly the sentiment is back to "sell me your cheap shares" , "ill be topping up", etc. what about management accoutnability? read the below and see what needs explainging. Cheers bazzyboy!

    In my view Management have covered themselves in anything but glory and are starting to appear a little shonky, fast talking, a covering, selling their snake oil from a car boot. and all the while flicking off shares.
    Anyway for those of you who didnt see it the first time.......assuming yuo all recall the tale of the emperor and his new "clothes?"

    Posted by Baz Tokyo
    Good to see the 'team' has no negative views - pity about the other 'team' holding paid

    As for other items posted today without any comment from Glynn are:

    - The so-called Personal Matter with Monarch is no longer personal - explain.
    - And the Monarch matter somehow morphed to the point where now OBJ
    is indicating they would 'pay' $140,000? - explain.
    - And since OBJ 'know' there is now some payment due, why can't they
    estimate legal costs and duration - explain.
    - Jeff selling out holdings very recently in light of the info today - explain.
    - GSK backing out when recent information presented indicated the opposite - explain
    - Indications late last year that funds had been received but nothing in the accounts
    and now Glynn defining the differences between revenue and cash after the fact - explain

    And while at it, might as well head all the way to April last year when Glynn indicated there
    would be more frequent updates and information to holders, but that never arose - explain

    And if they have invoiced PG why is it the company can't now provide any forward
    looking projections whatsoever?

    The directors have done a pretty abysmal job promoting the company and image within
    either the investment community or with consumers so would love them to explain that

    Unfortunately we are almost at a year since the PG announcement and the outlook
    and results are as opaque as they ever were and absolutely no guidance whatsoever.

    Why not complete the list of annoyances that also includes the confusion as to
    licenses versus royalties versus income and why it required so much time before OBJ
    could clarify that (and was only implicitly clarified through inspection of the
    marvelous performance bonuses the directors set themselves up with, as well
    as some email communication between Glynn and some posters that doesn't
    constitute anything official).

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