ASX Business Rule 2.2.4 Prevention of manipulative trading - a solution, page-21

Muyakea - I found your post an interesting exercise in mixed logic. Your post was a neat parcel wrapping four points of argument outlining why UCM shares do not suit your primary investment guidelines - in a wrapper trying to deliver a lecture on your view of market morals.
Can we just put the the wrapper to one side and concentrate on your points valuing UCM shares as an investment.

LISTING YOUR POINTS IN ORDER
"1. The business does not have recurring income streams, its has to continually find new buyers for its device. It has no consumable or software as a service component. That is what the market is interested in." TRUE It would be nice to have those and they may come in future devices.

"2. UCM has been around for a time now and it has simply failed to ever deliver." That is a statement that shows a very limited knowledge of UCM product and history, or the value of its intellectual property and the width and depth of the MOAT around its products. There are over 1000+ USCOM 1A devices around the world in leading Critical Care Centres of Excellence that are daily saving thousands of lives. For those interested in ethical investing, UCM shares are attractive.
"Over time they have released countless scientific papers on the benefits of the existing device but they have never been able to find a market".
I might ask - do you know what those countless scientific papers are all about? They are about replacing old technology with new and the establishment of a new, non invasive, internationally accepted GOLD STANDARD for measuring heart performance. THIS TECHNOLOGY IS THE CORE VALUE OF THE UCM PRODUCT RANGE.
That statement also just reflects poor research on your behalf. UCM have sold over 1000 Uscom 1A units - 1000 x USD 30,000 each = USD 30,000,000. UCM like Amazon did - has ploughed the money back in to get it where is is today with an international footprint and no debt.

"A major has never partnered with them, this endorses a product" Now why would anyone trying to build an empire want to partner with a major? I can think of safer ways to be successful.

"3. As per above, their has been the odd spike from time to time but it has always then failed to back it up via the 4c. You could see it when the June quarterly was released, there was expectation of a good 4c, stock rallied to around 27 but the 4c failed to deliver". - I am afraid that expectation was your expectation - you expected to see the USCOM 1A units just fly off the shelf and make you rich. It was not the expectation of those of us who understood the market dynamics and realized what should be obvious - that nobody races out to buy new equipment in the middle of a pandemic. That comes after - see China's recent order below.

"4. Geopolitical - the relationship between the west is not good at the moment so there are concerns about companies with exposure to China where they can be bullied by the CCP. Big miners are immune because there is no where else to go but smaller companies could become footballs and as things stand China is the only market UCM has any material exposure to." Firstly that statement is incorrect, but it is true UCM have identified China as a major future market for their products.
What you say in point 4, is general press conjecture but is not born out in practice in the case of UCM. The company Uscom and the CEO Rob Phillips are well respected in China. Are you aware that Prof. Rob Phillips PhD(Med), MPhil(Med), FASE, DMU(Cardiol)Chairman, CEO, Chief Scientist, Uscom is also Visiting Professor, Cardiovascular Physiology and Critical Care, Jining University Medical School, Peoples No1 Hospital, Jining, Shandong, China.?
If you look at the USCOM website - NEWS 2 June 2020 you will see 51 USCOM 1A devices were just recently commissioned POST COVID19 into 51 of China’s COVID-19 designated hospitals in the cities of Wuhan, Beijing, Shanghai, Jinan, Xiamen, Tianjin, Guangzhou etc.
These installations are part of a strategic expansion of critical care services for management of COVID-19 and other seasonal infectious diseases. This is just the beginning of a massive planned expansion of Chinese health care services. You have to hand it to China they are quick learners and not afraid to invest in forward planning.

Each of us do our research before making our investment decisions and I examined the reasons you put forward for not liking UCM. You can see from the above I was not terribly impressed with the depth of your research or the validity of your judgments - but each to their own - Good luck with your preferred investment choice