Ann: APAS Independence Receives US FDA 510(k) Clearance, page-120

They go to conferences. Endless conferences.

They need to appoint a distributor. Distributor won't sign on till it is completely derisked. Derisked = sales. Can't get sales till they appoint a distributor. Has been a bit of a chicken and egg problem. Doesn't help that management are not good at selling. So what they have be been doing is place the machine with "opinion leaders" in key markets (read Germany and US) in the hopes that once these customers / partners use the machine they just have to have one.

Another issue is that the market they are trying to sell to needs MRSA module that they are currently developing. The only one they have at the moment is for urine which has limited utility.

They have spent a good couple of years at least "learning" that developing this MRSA module is hard so they have been insourcing software development capability. Hence the money from the SA government.

Recent updates gave the overall impression that no one wanted / or was ready to buy in Australia due to government budget cycles and that the machine wasn't that useful to customers without the MRSA module. It all signaled more delay to me.

My guess is they are months if not a year away from any significant sales. Assuming they can get said sales and market share before any potential competitor appears on the scene and does a better job at selling than them.

Just my opinions DYOR.