Management have been very silent, nothing to report to us since the last quarterly update. I feel for the shareholders who chipped in for more shares at 15.5 for the rights issue. Did Richard take up his? I did not see any announcement relating that he did.
The main problem is they are not making as much money as they are spending, and even after the successful results from the trials they did not get lot of traction regarding sales of new devices. They have blamed some of this on the situation regarding Covid in hospitals so it will be very interesting to see how they are now going, but alas no updates so far since April regarding any sales. They really need to crack it big to make money as the overheads are huge in this company, regarding software and hardware changes, and management expenses.
And where is the buying support? Its very weak indeed. And you have to ask yourself why?
Ann: Appendix 4C & Quarterly Activities Report, page-82
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