Stupid me, I came and read HC before reading the ann. I read all the comments and thought this report will suck. It did not. Here is my rose coloured interpretation.
Burn $2m a quarter with no debt and $14m in the bank. So even without any revenue stream, we have another 7 quarters (more than 1.5 years) to commercialise the technology on any of the fronts.
We sold some covid tests, good sign... BUT..... COVID opportunity is good as dead, even if we figured something out, and sell some tests somewhere, it will not be a company maker.
Our COVID experience gave us just that, EXPERIENCE. We are going into the Sepsis market with eyes wide open and lots of learning from our COVID experience. Most here invested in ADO before COVID. We blew that, but it was always a cherry on top. If you think of COVID as a test and learn on how we eventually need to commercialise a test (trials, regulatory approvals, manufacturing, distribution etc.) then we traied and we have learned. Sets us up very well for future tests.
Multiplex test (COVID/Flu A/Flu B) - Assay design locked in (good step). Manufacturing transfer process to Operon is also complete (very good step).
Sepsis - going well, results are good. Learning from COVID experience being applied to our go to market (GTM) for Sepsis.
EUGINI - All above tests work with the one reader. The strategy to have a proliferation of these readers out in market which can be used for various tests remains in place and is sound. Pick a country, any country (we only need one for now). Imagine you go to a GP or hospital. You can get tested if you have flu like symptoms and be told if its COVID or flu. Or you can get tested for COVID (ensure safety of healthcare workers) and then be tested for suspected sepsis. All on the one device.
Energy - We were the only presentation focussed on binders. That can be good or a bad thing, I will leave it to each to decide for themselves. Its good as we are leading in this space, it could be interpreted as bad because we think there is no future in the space of working with binders. Either we are far ahead of industry or have missed the boat. My rose coloured glasses make me believe its the former.
AnteoX continues to demonstrate that it works with many different binder chemistries!
We know about the reported cycle life and capacity improvements. If you believe the reported numbers this is great. If you won't believe it till someone signs on the dotted line, then keep waiting till its further validated.
Collaborator 8 - someone mentioned where are they. They are here! "Strong" results achieved with C8 and now working together with C8 and their customers for a joint product. Can't be all fluff if this is happening.
Repeat steps with C8 with other collaborators. Seems like first step is to focus on the niche of Specialised high performance battery manufacturing operators.
Some nice conferences for visibility, some nice research collabs for further visibility and networking, plus some management and board changes.
Market price tells me didly squat given the LOW relative volume and that we were below current S only a few days ago. I'll read into how Mr. Market perceived this announcement a little more if we see large price swings or volume. Until then, market data is noise. The real story is in the announcement. No need to read between the lines either. Its all there in plain text. Make of it what you will.
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