Originally Posted by
Balance
$500k down and you want the company's shareholders to take more potential punishment?
I have not lost money on PEB, unlike others, so I am happy to post for the benefit of those who do not believe PEB's statements are gospel truths.
I am very open about the fact that I was a believer but sold out when it became clear to me that PEB was not forthcoming and transparent with the real state of affairs.
Example (again just for you), have a read of what they said about their cash position at the AGM last year.
And this in the ODT today : "When asked about the rate of cash burn in the past year, of $12.6 million, Mr Darling said it was ''highly expected'' and handled under the company's ''tight budgetary processes''.
Highly expected? As big a porkie as will ever be uttered by a CEO in the context of the $20m raised 2 years ago being sufficient to take the company to profitability.
Then, he uttered the immortal words : " unable to predict a break-even point for the 13-year-old company". Totally unacceptable.
Trust my hard owned money with this scientist?