Unfortunately, Ralph has the natural ability to communicate like a downramper on his own business.
Interesting approach ! Looks like many anticipated this style of reporting, as nothing new was reported, yet the sell down came and plenty of buyers are turning up to soak up the volume ( including myself ).
I believe Ralph put this business into a "holding" pattern at the start of the year. Took as many costs out as he could, including himself, anticipating the negative impact of covid on existing customers ( AbioNed ), and likely delays in making new nanotechnology commercial ( NanoDx and CGM ) . Also, bringing forward final payment from Nanotron sale. And just as well he did or we would be in strife!
But what I see is that we should just scrape through to see the anticipated volume triggers :
AbioMed expected to be back to the previous levels by June. Whilst, the return to full production took longer than expected, the customer has also provided a forecast showing continued growing production requirements throughout FY22.
NanoDiagnostics Notwithstanding, Sensera has been asked to start the ramp of sensors in Q1 of FY22. This ramp is still predicated on FDA approval through the Emergency Use Authorization (EUA) process.
CGM where volume ramp is starting into FY22. This is the next customer in the pipeline to drive material revenue with a total opportunity size of US$4m
AND the Company has also moved multiple customers and opportunities forward to lay the foundation for the balance of FY21 and into FY22.
To me, there were absolutely no surprises in this quarterly, including the reporting style. It's a speculative stock. I still speculate they will deliver, and still manage to "downramp" any communication of a great result. IMO. GLTAH
