kim olesson leaves position head of clinical affairs, page-18

those badgering semi retired's optimism

since the time we were @ $11 the following things happened

good

- 15 implants in europe (35 left for trial end) possible euro activity soon (distribution)
- patients weaned,lower infection rates,improvements 6 minute walks
- 48 enrolled in the trial ( slow but steady increase ) 22 sites activated
- appointments of top executives - brian brown/kim olesson/claudia drayton
- added media exposure/awareness in comparison where we were 18months ago (bbc,jaac)
- interim analysis approval which cuts trial time and $ spent on trial by half
- patient selection committee which should help in gaining positive results
- exploring different avenues for the cpulse like angina,hyper-tension etc
- cash position $37m
- no competitors in sight - revive it dead - stem cell look at cldn
- cpulse2 advancements ( first in man fully implantable q4 2016 )


bad

- slow enrollment uptake but improving
- trial suspension ( all deaths non device/procedure related)
- kim olesson parting the company
- german reimbursement delays


to conclude

slow enrollment took the stock from $9 to $3
trial suspension took the stock from $5 to $3
Kim's departure took the stock from $4 to $3

when you look at the good and the bad , does it warrant a price level of $2-$3 ?

we could still have slow enrollment numbers and fall even further.

but to be honest, the progress has been nothing but superb. we have had stumbling blocks but the company recovered and moving forward.

I would rather arrive to my destination safely than speeding with the chance of damaging my health.
in other words , the company's cautious approach in driving forward with caution than choosing the wrong patients and messing up the trial.

The only bad thing about this company is the stock price. I do share the frustrations of everyone here but progress has been superb. The stock being constantly driven down doesn't make the investment wrong. At the end of the day none of us would sell even at $10. I agree at the end of the day our return depends on the stock price and not the eventual success of the company so hopefully things get better and I have said this for the last few years. I only hope for us to be at a level that matches current progress.

If I had asked anyone here 2 years ago that the following progress will happen taking into account + the slow trial + interim analysis , you would all say we'd be at the $20 range.

From an investor who has been buying since $13 down to $4 ( and believe me i have lost in terms of value and amount of shares ) if you dont believe in the progress made and the potential then why stick around ? plenty of other stocks out there.

We could go down to $2 and it will be tough but Id rather have great progress over the stock price. Once we are hopefully succesful the price will take care of itself.

Fact is , wonderful opportunity to buy.

all the best