Agree. Bottom drawer.
The Italian contract looks dead. The company floated on the back of this contract. Hopefully they can replace this distributor soon.
Cash burn is too high given the cash balance. The market will expect a cap raise in a few months.
The tech is brilliant but milestones set last November at the roadshows have been delayed or missed. FDA wont be until the new year imo. Now the founder is stepping back from management which could be a good thing.
Luckily this company floated on a low ev. A lot of credibility is lost and management have a lot to do to turn it around.
Bottom drawer.
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