General Forum, page-122

Agree. IMO the non performance of ACG is still a bit smeared on the face of CDX. This is in the process of being shaken off.

I've been in and out since 2010. Around 2014 a big milestone for ACG (sphygmocor hospital device) was reached - CPT2 approval in the US which meant insurers would pay for ACG blood tests. The market expected this to be alot higher than it was, so there was a rout and the price collapsed. Old management were focussed on hospital sales in a niche market where they were the gold standard, but that market was small. The goal back then was to try and get Sphygmocor into all hospitals and health clinics. Back then I was hoping for $500M mcap at 'maturity' of the company. Incidentally, at the time I was also in out of Nanosonics (first purchase was 17c): NAN is now a over $6.

Fast forward to 2018. Craig and co take control with a new, much larger vision. Here's the journey as I've seen it: I put it down as stages or phases, which overlap. It's worth looking back at these as were are now close to launch, and that for me is first major inflexion we might see. Other inflexions will be subsequent launches, more parterning, and increasing recurring revenue sales.
The journey has included:

• The death of ACG (late 2017): Craig & Co took control late 2017. At this stage, his track record was all we could go off.
• The birth of CDX. June 2018
• Vision : Market was informed of new direction, products, consumerisation, saas-ification. For me this vision was pretty clear at the start, however it was refined and improved over 9-12 months. I think the vision is pretty clear now - it's all about making it happen. If you invest in the vision and track record of Craig, you should be comfortable in your investment (I am). We're still transitioning from Vision to In Market - see next stages that are still ongoing.
• Technology validation in consumers: Macquarie uni trial showed the technology will work for consumers - ACG holders would have expected this outcome, but it needed to be communicated.
• Enablement & Partnering : This began with downstream and upstream partnerships. Early on this included a manufacturing partner, joint venture with Blumio, as well as inHealth and what came along with that. Moboi and Andon came later. This stage is ongoing and we're not sure how the later two are progressing, and for me at least - how exactly these are leading up to the launch: I assume Andon are making the 10K devices. In addition, licensing models for the sensor. There's plenty of announcements around partners: the networks looks good, including who has been hired and their inroads to other places.
• Product Development stage. I think this began late 2019 in hardware, and sometime last year for software/SAAS. We know this is happening. We've heard of the 10,000 unit order. There's multiple products - but we're really not sure on the details.
• Launches. Starting later this year the products will launch. I want this to take us over 50c... we'll see.
• Scale out. Products are proven and revenue goes exponential. If they are good, with consistent quarterly and annual growth, I think in 2-5 years we'll be share price in multiples of dollars. Look at NAN or RMD's historical sales as something to aspire to.