Cardiaction has been running for a bit over a year. I think it's an in pharmacy service where they take a bunch of measurements for a general cardiovascular assessment and then ongoing monitoring. I'm not sure, but it seems to be at the discretion of patients and not referred since it's fairly explorative. It's unlikely to have a significant impact on revenue as it's only 1-2 devices per pharmacy. But maybe something similar could be/is done in China or SEA which may offer a more scalable market for the device.
It was fortunate the company raised when it did since markets globally have fallen a lot since then. We have to remember that the raising was always going to take a long time to have much of an impact on revenue. Insiders dumped millions into this plan knowing the long time-frames, so in my opinion it is better to wait with them.
However, I suspect the next two quarters are going to see very high cash burn and low revenue since China appears to have greatly reduced or stopped buying anything from Uscom. That in addition to poor market depth, uncertainty and nothing sexy being announced for a while means the share price could fall a lot further. So maybe if you're already on the fence it's better to grab the tax loss and buy back in later. You could miss a rebound, but it could stop you selling at maximum despair and not returning.
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