Ann: Appendix 4E & Annual Report, page-17

Just a little weekend thought for all those investors losing faith in this company due to the share price - don't let the tail wag the dog.

OCC reported interest on its cash holdings alone of $850K:


Take a step back. That investors are selling a company that has $25 million in cash, is growing revenues (running at last reported $2.6 million yearly revenue rate) at 31.5% and forecast to go cash flow positive in CY 2025, well before that cash buffer gets pressed, for a mere $70 million, is frankly bonkers.

That's purely on early global BioHorizons/Henry Schein Striate and Australian Remplir sales. Let alone going global on Remplir, following with CelGro tendon and rope, ACI, which turned Vericel in the US to a $1.6 billion mkt cap company, and of course about to report in days (at long bloody last) surgery vs ATI results, in an almost tandem study it did with a cortisone vs ATI study with Johnston and Johnston (even if you put a J&J partnership probability at 10% you'd surely double this mkt cap).

On existing business alone, OCC just announced a $645K sales quarter - that's a $2,580 million per year sales run rate in the last quarter. I would put 2024FY sales way above that and Veritas put their sales for 2024FY (BEFORE THIS EXCELLENT SALES RESULT) at $4.6 million (Veritas admittedly need to a little work on their recognition of the contract revenue for some objectivity and warning for investors using it as a tool).

I might die skint holding OCC in 20 years time. I think more likely I will own a small piece of a company that will have at least progressed to posting yearly revenues in the 100's of millions, possibly quarterly. Its no Amgen for the dreamers, but its ridiculous value at $70mill on existing known fundamentals and Thursday I bought more.