LBL - Laserbond Limited

[galumay]

God I hate Enhanced Search, you could have found that out in 30 secs yourself and copied & pasted.

Anyhoo, Greg & Wayno having a public falling out is a red flag for me, even though I am a hodler. Its easy for Greg to fire shots from the outside, very hard to know if there is any merit to his whinging and whining.

I wondered if today's pop in price was some reflection on the tariffs stuff? Probably not, it does jump around due to the illiquidity.

 

[finicky]

Close to my best mover today and exceptionally high volume too. It's more than the general market's tariff related explosive rally.
So someone(s) likes the cautious approach but I think I'm right in interpreting the founding director as saying that over-caution and board comfiness and lack of relevant qualification and experience has been behind Laserbond falling behind in innovation and dipping out on vital expansion opportunities?

Held
Holding
Would have accumulated but a critical forum post by Greg Hooper (founder) has paralysed me.

DAILY

 

[finicky]

Copied from another forum:

"Gregory Hooper
432 Pine Forest Rd
Tomerong, NSW 2540
Australia
Email: pineforestco@protonmail.com
Phone: +61 403 048 875

11/04/2025

The Board of Directors
LaserBond Limited
2/57 Anderson Rd
Smeaton Grange, NSW
Australia

Re: Request for Clarification on Strategic,Operational, and Governance Matters

Dear Members of the LaserBond Board,

I am writing to formally request clarificationon several matters of importance, which I believe are critical to LaserBond’sgovernance, strategic alignment, and the continued integrity of its operations.

1. Declined Opportunity with AML3D *

I would like to seek further clarificationregarding the Board’s decision to decline the opportunity presented by NovusCapital to acquire a significant shareholding in AML3D. This decision appearsboth unexpected and unclear, particularly in light of the strong strategicalignment between AML3D’s advanced wire-arc additive manufacturing capabilitiesand LaserBond’s long-established expertise in laser cladding and surfaceengineering.

Notably, AML3D’s recent establishment of afacility in the United States represents a significant strategic milestone. ForLaserBond, which has been exploring pathways into the U.S. market for severalyears, this facility could have offered a well-positioned and accelerated entrypoint, potentially reducing the time, cost, and complexity required toestablish a similar footprint independently.

Given the evident synergies in technology,market reach, and geographic expansion, the Board’s decision to decline thisopportunity raises several questions. Could the Board please elaborate on therationale behind this decision? In particular, it would be helpful tounderstand:

• The evaluation criteria and metrics applied during the assessment.
• Any risks, limitations, or concerns that were identified.
• Strategic or financial considerations that informed the final decision.
• And whether any independent advice or consultation was sought as part of the process.

Clarity on these matters would support transparencyand help stakeholders better understand how this decision aligns withLaserBond’s long-term strategic objectives.

2. Leadership Training Provider – PotentialConflict of Interest

Secondly, I wish to raise concerns regardingthe recent appointment of a company to provide leadership training services,where there appears to be a potential conflict of interest. To that end, Iwould appreciate clarification on the following points:

• What process was undertaken in selecting the provider, and what evaluation or procurement criteria were applied?
• Was the Board fully informed of any existing relationships or affiliations between this provider and any current Board member or senior executive?
• What governance measures or conflict-of-interest policies does LaserBond currently have in place to ensure transparency and fairness in such appointments?

Proper oversight in such matters is essentialto maintaining stakeholder confidence and ensuring consistency with LaserBond’sstated values of integrity and accountability.

3. Recruitment Expenditure Transparency

Thirdly, I am seeking clarification on thereported expenditure of $644,506.00 in recruitment costs, as disclosed in thecompany’s most recent report. Given that public reporting indicates LaserBondemployed 147 staff as of 31 December 2023, the scale of thisexpenditure in the first half of 24/25 is deeply concerning and raises issuesregarding transparency and potential misclassification of costs.

Could the Board please provide a detailedbreakdown of this expenditure, including:

• A clear itemisation of recruitment-related expenses.
• An explanation of any other associated costs grouped under this heading.
• And assurance that these costs accurately reflect recruitment activity alone, rather than broader human resources, consulting functions, or other expense categories.

4. Technical Support and Brand Integrity

In addition to the above matters, I would liketo formally reiterate concerns I raised in a recent phone discussion with theCEO regarding dissatisfaction and eroding trust expressed by one of LaserBond’sLicensees. The issues presented are deeply concerning and reflect what appearsto be a critical gap in the technical competency of the personnel tasked withsupporting Licensees.

After being contacted directly by the Licensee,who was struggling with unresolved technical issues, I engaged in severaldiscussions and reviewed relevant images. Based on this, I was able to identifythe problem and provide effective technical guidance that successfully resolvedtheir immediate concerns. I want to state unequivocally that I did not receive,nor did I seek, any financial benefit for providing this assistance.

It became apparent that the root cause oftheir difficulties stemmed from incorrect technical information they hadreceived from LaserBond, specifically relating to a critical process parameter.This misinformation had significantly contributed to the problems experiencedand understandably undermined the Licensee’s confidence in the support theywere receiving.

This incident calls into question the adequacyof current training, oversight, and technical capability within Laserbond, andspecifically the team members supporting Licensees. Given the importance ofthese relationships to LaserBond’s expansion and reputation, I stronglyrecommend the Board review the current support framework and considerimprovements to training, supervision, and accountability in this area.

In raising these matters, my sole intention isto encourage greater clarity, transparency, and alignment with LaserBond’scorporate values and strategic aspirations. I remain committed to the successof the company and look forward to your considered response.

Yours faithfully,
Gregory Hooper"

* ASX Listing AL3

Company | AML3D (ASX:AL3)

Unleash your additive manufacturing potential with AML3D, unlock manufacturing possibilities, and empower clients to compete and win globally.

aml3d.com

 

[galumay]

He really needs to take his bat and ball and bugger off! He is doing nothing but harm to the business he is no longer part of.

edit - I think I need to add it to my red flag for directors and companies - feuding brothers on the board. Emotion overrides rationality and shareholders are the losers.

 

[finicky]

He is doing nothing but harm to the business

How has he done that galumay? You're not conflating the business with its representation on the stock market are you?
You don't think the founder, who has obviously maintained a close monitoring of the business, should air his concerns if he perceives the business as losing its mojo. I assume he remains a significant shareholder.
As an aside, have you had a squizz at AL3?

Held
Dithering about an add

 

[galumay]

Looks like an improved second half for LBL, mainly thru improved margins. No mention of technology division at all, so no new contracts there I assume.

 

[galumay]

Some signs that LBL might have turned the corner, with a much improved H2 2025.

Red flag is the claim in dot point 1 about NPAT, looking at the income statement its difference in tax rate that drove all the NPAT gains.
Lets see how they execute in 2026.