RE: RE: RE: Redacted Di...You may or may not fell the pain more than some here. Pain is relative to your tolerance level and few have any left.
Those are reasonable questions and deserve reasonable answers.
No one thought that Bioniche was a risk free investment but at the same time there is always an expectation that a BOD would provide a certain, not perfect but certain, level of oversight, discretion and risk management on spending. Have we seen that? My opinion is a resounding no.
What would I have done with Econiche and easy government money? Hmm, before I spent 60 mil, including R&D, trials, hiring, construction etc. on pursuing it I might have done some detailed market research to develop some resonable insight into the level of interest of my clients...cattlemen. Now I might have had a wink wink from the ag minister at the time, but in democracies the winds of change always blow and politics always reverts to the mean. In a Conservative government the mean is rural power that fights well outside its weight class. Cattlemen DO NOT WANT ECONICHE AND NEVER HAVE, nor do they want their own government telling them it is not their choice. Coming to this conclusion would have been very inexpensive and left 60 mil more for McRae to blow elsewhere.
I would have done what BNC did with Urocidin, under the circumstances(Caveat below). I would have made an effort to be substantially more forthcoming about its progress and viablity, but tough to fault much there (caveat below)
Endo...Well when you let your cash drain to near zero, take no real no measures to maintain reserves and institute austerity measures you negotiate from a hole, with aboot ready to stand on you when you vacate the hole. Pre Endo the shareholder was exactly where they are now...ill informed, disillusioned, POd, feeling mislead and betrayed. Need I say more on this.
Bioniche management made their own bed, over and over again. They want you to believe that various outside forces keep messing it on them and if given just one more chance they can tidy it up permanently.
Thats about it!