Evening all
It was a absolute pleasure catching up with fellow shareholders today
@Dhm@RNClarke@gothechooks@RudeeOne etc.
Well as far as I'm concerned ResApp was the standout company presenting today here in Sydney. What a turn out! BL was a difficult man to speak too as there was so much interest. He was very passionate and chirpy, he presented very well and started off the presentation with his Star Trek analogy. He captivated the audience and was very clear and concise and getting the points across. The information presented was much the same as last year's conference other than the obvious new additions, CE approval, TGA and the Creasphere program. Speaking of the creasphere program - our company was invited to participate in this not the other way around. Tony Keating and Kay Taylor will be representing ResApp in the creasphere program and
“Collaborating with the consumer healthcare business unit of Sanofi"
FDA remains the next company objective and Brian remains confident that our company is able to achieve this. Remember I had spoken to Tony a couple of months ago and at that time there were no outstanding questions that Tony wasn't able to provide a response to. Remember it is an ongoing communication process between the FDA and ResApp. We must be very close to an answer now in this regard folks, I remain confident of a successful outcome as we have been able to answer all of the FDA questions to date as far as I am aware. If we couldn't answer questions this is when we have a problems - no news is good news in this regard we are literally so far into the process now something like 190 days so expect a decision very shortly...
Brian went into a little detail about Lockheed Martin for DARPA Research - Brian was out with TK at the time when he received an extremely important phone call, BL said Tony was as white as a ghost and "you could have not knocked him over with a feather" BL said. When the call came through Brian looked Tony and said - what's wrong? he asked Tony, as he was in shock, Tony replied to Brian - that was the colonel wanting to know if the Tech has the ability to diagnose the US army for combat readiness. Hence the partnership and the DARPA research program which remains on going. ResApp is playing an important role in the program BL said.
In Brian's opinion he doesn't see the need to raise any additional capital at this stage as we have around 5.5 million in the kitty at present. This doesn't however rule out a capital raising as he is not sure what the rest of the board think. He believes commercial deals are likely to make investors head spin.
Managements focus at the moment is on commercialisation. He believes that the share price is very much so currently undervalued for what our company has achieved to date.
Expect an update very shortly in relation to the German hospital network chain the update is likely to come this quarter.
The potential Chinese partner is going to be an interesting one. China is a huge deal as we know as an example Ping an the good doctor is turning over well over 500000 consultations daily 30 to 40% of these consultations are respiratory related. Interestingly we may not need to go through a prolonged study in China if we were to issue the medical data as a screening tool or indicator rather than a diagnostic tool. This would mean we couldn't charge 5 to $10 per use but the daily large volumes going through would ensure substantial revenue flow even at say just $1 per test. We are already receiving interest from China. As far as I'm concerned this is an excellent idea!
Brian believes that the recent positive data around sleep apnea is outstanding and is likely to generate more revenue than the coughing diagnostic algorithm side of things. He estimates that at a minimum $50 per test is a reasonable cost base could be more? When one considers how many people actually have sleep apnea and 80% of those people don't even realise that they have it I can see the numbers stacking up quite quickly and why Brian feel this way...
All in all it was a fantastic day, good people, great food, amazing atmosphere followed by drinks afterwards to cap it all off
Hopefully this small contribution of information was able to assist you and help cement your beliefs in the future prospects of this wonderful Australian tech company
Happy RAPper!
P.s. Brian has always been a firm believer that one day the company could one day be taken over. There was no mention of any specific companies that were interested in taking over as alluded to by a previous poster today.
PPS Brian mentioned that he was in a blackout period at the moment meaning he currently cannot purchase any shares on Market. In my opinion this means he must be privy to some information so therefore I'm expecting some eminent news flow very shortly. Hopefully it's around commercialisation as this will really put a rocket up the share price, especially if the commercialisation that is coming we'll "make our head spin"
Cheers
Red bar
