.
What is very frustrating is to see the low-risk growth business for Adapt surgical patches being not advanced.
We have a product which has geographic advantage as in no mad cow disease ... and potential for extra product as in pre-formed shapes, especially tubes for heart bypass ops which needs some development ... yet instead of investment in a large and highly skilled salesforce we are losing momentum in MENA (middle east north africa) India, and evrywhere else too except for USA and some parts of Europe. For a product containing technical advantages and claiming a premium price, distributors are useless in making sales. MUST HAVE SALES PEOPLE ON THE GROUND!... but where are they?... As far as I can see oour salesforce is shrinking and at least some are very unhappy and angry .. note Admedus is tied up in the courts in New York with a disgruntled former employee .(Lapushner v. Admedus Ltd. et al (nysd-1:2018-cv-11530 Southern District of New York)
So here we are ... financially broke because of our funds being invested in a wet dream for a product which we see today is not on anyone's horizon (TAVR) and now we are unable to make the necessary investment in Adapt.
It will be a miracle if WP can pull this out of the fire. I give it until end-September before VA.
.
Ann: Appendix 4C - quarterly, page-40
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