TELESTA THERAPEUTICS INC T.TST

AGM thoughts.

[beechguy]

Not sure what you heard RB or if you were at the AGM. What I heard was a very confident CEO that pulled no punches when it came to how the company had been run in the past.

He said we cannot keep the VMC manufacturing nothing. We are either going to contract manufacture not to break even, but to make money, or we sell it period!

"I am not seeing things with jaundiced eyes", was the CEO's quote. Thanks for  reminding me of that quote Sprules.

"Anything that is low margin or costing us money, we are selling or getting rid of."

This is hearsay, but I heard a shareholder asked the CEO how much influence will Graeme have at board meetings. His answer was ZERO. 

I asked: Since the name Bionich is sullied and the ticker symbol and its charts are abysmal, is there any thought about changing the name and ticker symbol completely? His answer was an unequivocal yes. 

Everyone was pretty angry in the question and answer period, but after it was all done, just about everyone I talked to was pretty satisfied with the CEO and his presentation.


There is a fast track meeting with the FDA on December 18th. He said a fast track approval, will give us 1000% more bargaining power with partners.  

Interesting next few months. We will see if the hatchet comes out, or if it is business as usual. From what I heard,  expect to see a lot of changes in the next few months. That will be a welcome change.

James Rae gave a heartfelt thank you to Graeme for his years of service (for constantly screwing and misleading shareholders) and goodbye speech, to which you could hear a pin drop afterwards. Graeme was very quiet, sat at the back and didn't see him engage anyone but staff. Thats the price of complete and utter failure I guess! good luck with the retirement....


Essentially things are changing at Bioniche. That was a breath of fresh air from the "so much behind he scenes we can talk about" from previous AGMs.


beech

[OldYin]

I agree.  I thought the new CEO was quite impressive, despite my low expectations going in. The answer to questions about post- AH sale share buybacks vs. dividend payout seemed a bit weasel-ish, though.

[diyodt]

Yup, the question re sharebuybacks was from me. Here comes the next screw, to get the options in the money, expect a robust sharebuyback. While the new CEO was certainly well spoken, he did dodge that one big time, making me think that fix was in from the day the shareissue was concocted. At least he committed to outline how the proceeds from AH sale will be divvied for the upcoming vote. Not that