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donnerhal

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Announcement today about SPP. A maximum of 150M shares to be issued raising $3.3m. Actual number issued 23.45M for cash of $422K. A big letdown. I wonder how many were taken up by directors? It's going to be a tough 12 months before further product approvals come through.
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The Chairman bought $5000 worth of shares, the second lowest amount possile under the recent share purchase plan. The other 6 directors purchased zip, nil, none. How inspiring is this to the poor shareholders. Looks like the directors do not see this coy as a viable and worthwhile investment. Heaven help them if they want to raise any funds for the future.

 

They havent enough cash to complete the Sept quarter, so their future viability must be questionable, especially taken in light of the directors lack of conviction to support the recent cap raising. They include the gun trader Leo Khouri. It will be interesting to see how they plan to survive and at what cost.

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Well if you're right it will be a great disappointment to me, not only for the money lost, but for

the failure of a product that seemed to have brilliant potential.

But no doubt some foreign co will snap it up for a song . .what else is new?

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IMO DOB, SLA has enough variations of new products in the pipeline to get off and to shore up without being diverted into other businesses, is also vulnerable for immediate cash survival, and entered a JV with BPO to allow someone else to concentrate on animal husbandry of bio-effectives. I thought the continuation of exclusivity very strange for SLA to continue with BPO when they had not met the agreed $3mil expenditure in the initial agreement qualifying terms, as BPO were struggling to meet that figure, its future ability to spend and do justice to the agreement.

 

SLA do not need to become interested in non-core industries like termites. The more logical outcome if BPO do not perform with the bio-effectives is to terminate the exclusivity due to failure to perform, and enter an agreement with animal husbandry/marketing experts Salim.

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Rileyi, I agree.

 

SLA do not need BPO to offer bioeffectives to the horse industry.

 

I gave BPO the flick when the first thing management did when they got some money from SLA was to give themselves a MASSIVE pay increase.

 

The SLA bosses to their continued credit work on the smell of an oily rag. I wish more company executives would follow their excellent example. Build the company first then take a pay rise when the company is on solid foundations.

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even more problems now for BPO. BPO are in dispute with SLA over rights and performance obligations under the development agreement. I cannot understand why SLA extended the agreement when BPO had not met the required $3mil expenditure on time. In fact they were no where near that expenditure.

 

SLA currently have no directors representing them on the BPO board, instead of the 2 agreed. With now 6 directors for such a small coy, and needing another 2, thats a lot of directors taking this coy nowhere fast. Looks like a big reshuffle to come, and some to go. For suggestions, there are 2 that have questionable pasts with conflicts with those that keep the law. There is plenty of documentation of such in the public arena for those not up to scratch with who their directors are. That would be a good area to clean up their act.

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rileyi: I am not a shareholder of BPO, but interested in it due to my shareholding in SLA.

The basic question right now in my mind for BPO is: Can that company survive ? With BPO's sp being so very low, the option of offering a ton of new shares at a low enough price to interest "sophisticated investors" to make a quick dollar seems to me to be most difficult if not impossible? Time will tell.

Just wish that SLA can take back the rights for the bioeffectives for animals as smoothly and quickly as possible (and possibly strike a better deal with SALIM). All JIMHO.

wasa

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