Yea 3 different patents in 3 countries (US, AUS, Japan). Regulatory approved TGA and CE mark. The patent in USA is like 5-10 years (can't remember the exact duration)... Competition has to go through multiple clinical trials to prove utility, have to apply technology in agedcare centres (physical environment), then get FDA approval (which takes atleast 1.5 years), finally start competing with Painchek
The best competitor if any, need 3 years to catch-up with Painchek that's assuming they have built a deep neural network in less than 2 years with 80%+ accuracy with a large training dataset. We have 3 year head start, competitors have 3 years of catching up to do. If we commercialise in US market in less than that time, then we will eat up market share like a vacuum. So if it takes 2 years instead of 1, we are still ahead
If it were to be slow that would mean a 3+ year entry to the US market. Then competitors in US might have caught up. Although, beware of FDA. They can give the green light at any time between then. We are "commercialising" in Australia through the government grant, they did release an announcement saying the slow down in bed uptake was due to covid and the contract extended to March next year. However we are still getting paid despite not hitting bed target. Recently received $1.5M in the kitty.
The next couple of milestones is completing the trials (painfaces, Phillips, home care). Competitors can compete in those, once they get TGA and would probably be in clinical trials like Painchek. However, I can't find one that are actually doing it. In a weird way I feel management should focus more on the trials than the bed uptake. Counter intuitive as sales come from beds, but the global shutdown that has happened in a way would allow us to finish the trials and be well positioned for commercialisation. The growing sentiment is that most healthcare institutions are more inclined to increase their technology investment.
My guess for the price on June 30 at $0.15 and
@maria1240 of $0.10 is looking pretty good at the moment. Feel free to have a go. The timestamp show foresight, if you put guess on June 29, it's not as good as the early guesses that end up being closer to the price. Let's see how the month end up
https://bit.ly/2Mb1yWmSlow and steady wins the race
