Sales now look to come in @ $2.8-$3.0million Prev. best - $2.38million
But what is exciting for the future the continuing trend to improving gross margins.
I had budgeted cost of sales @ 29% for the year The ytd now sits at 27%
The 2% isn't huge - but it signals that it is likely to improve again next year - which means you can be confident locking away 27%
Cash burn - under $2.0million p.a. Cash - $4.2million
My opinion - they have 12months to get FDA approval so that the next cap raise doesn't dilute the daylights out of current holders.
My other opinion - the numbers being generated now are very significant for post FDA approval performance. IF the dolphin is given the turnover that is required - he will make money.
My last opinion - they need to double sales to start breaking even. $5.6million at least. at $10million sales they'll start earning 3cents per share giving it a P/E of 5 on today's SP It is starting to look tangible.
AVH Price at posting:
14.0¢ Sentiment: None Disclosure: Not Held
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