The second paragraph perfectly encapsulates why this is over priced. Hot air.
The reality is, this is a minnow with an incredibly small capital runway, surviving on R & D rebates & Cap raises to keep the lights on.
You’ve quoted an arbitrary figure of 10m from a royalty payment? The process of, a proven it’s efficacy, submitting to TGA & eventual licensing & distribution is along off.
This group have raised capital in tiny morsels, hoping to keep the register tight, which would have been a viable strategy if the execution piece in this space is short, it’s not, it’s a slow burn with an administrative quagmire to walk through.
EMD should have raised alot more, and a higher price but instead will most likely need to tap the market again this year with a severely deflated share price.
With respect to Twiggy, he’s got money to burn, John’s a lovely guy, but don’t know if this space is his bread and butter.
Hope that adds some meat for you to chew on, champ.
EMD Price at posting:
9.5¢ Sentiment: Sell Disclosure: Not Held
