Worst result as expected. Basically they smocked $10.4m (expense in books) without any tangible benefit coming out of Europe where they have CE marking approved for longtime now ... This is the best company where you work from home, achieve no sales and still get paid .... and then blame Covid.... lol
February to June all they did was office relocation, employ more people as we have cash in the bank to spend .... ! By the way we don't want TGA to work hard explaining why they can't approve our device in Australia so let's withdraw which will save our time and TGA time as well... !!
Last six month everyone in OSL should be on jobkeeper as they don't deserve full pay if they can't make a sale in EU or get HDE approved.
Now, they only got $12m left so count down begins on when would be the next capital raise and massive dilution coming this way?
OSL Price at posting:
5.0¢ Sentiment: None Disclosure: Held
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