Propanc Biopharma Inc (PPCB)

[BrightIdeas3741]

Why does anyone waste time with this stock? The company has been hollowed out. Look at the facts.

It had cash of $67K at 30 June 2020.

The company spent $3.5m last year, of which $180K was classified as R&D, the balance was on administration expenses, salaries and rent.

Nathanielz has awarded himself salary increase and bonuses for “accomplishments achieved”. Most recent bonus was awarded on 13 July 2020.

Stock price has declined 99.8% in the last 12 months.

The company makes a 9.5% contribution to Nathanielz pension fund.

The company pays rent of $140K for a 5 year lease to a separate company owned by Nathanielz and his wife.

The company employs Nathanielzs’ wife and pays her $120K per year.

The company has litigation pending from claimants alleging they are owed money for services provided.

The company states it is developing novel cancer therapeutics, which is what it has been stating since 2007.

Caveat emptor.