CDX (ASX) Ann: CardieX AGM Executive Update

Originally posted by LeeKing: ↑

I have to say that the meeting far surpassed my most optimistic expectations, and my fears were cleared away. About 12-14 people were in the audience. If I counted correctly, 6 company reps showed up and answered questions. Josh and Scott were particularly good. Here are some rough bullet points based on my bad memory:
As previously announced, they can make $1m from just 3 or 5 doctors in a specialist clinic, and one of those clinics wants the product ASAP and the other clinic has deep connections in their specialist area.
CDX is still fine-tuning pricing models.
The Band’s tech had a positive breakthrough very recently.
They won’t relist until all the cap raise ducks are lined up, which is a relief. Cap raise will be at a small discount to the last traded price. It will have listed options attached at 1 option for 3 shares. There will be a prospectus for the entitlement issue.
They basically said $6m from Clinichain will happen and it only cost $30k in legal fees. Announcement soon. That’s a stunningly good result. I reckon that will help to attract sophs for the placement and shareholders for the entitlement issue.
They said something about Pulse moving from episodic to daily readings.
Two new directors coming - one in US and one in Australia.
Better CRM began 3 months ago.
Working on Pulse OTC FDA submission for mid next year. Lessons from this year’s FDA clearance were learnt.
Doing Pulse clearance submissions for Australia, then China, then EU.
What to expect over the coming year?… Relisting, recapitalisation, aiming for profitability in 2024 calendar year.
99% of relevant products disclaim maternal use on boxes whereas we will emphasise maternal use.
There are Band licencing opportunities.
There will be announcements about product use innovations in the next few months.
Better communication expected now that CDX doesn’t have to worry about Nasdaq rules.
Lease example: $50 per month per device.
We will be supplying devices in bundles.
Some trial company specifically wants the Band for trials. Sounded like it might have been Beyer who gave some suggestions.
Waiting for Andon delivery. There was a bug in OTA updates. Trial production in the next few weeks. Then 3k then 7k. Have components for more production runs, e.g. 30k chips.
Pulse OTC clearance would help Band OTC submission.
One negative was that they seem oblivious about other ASX microcaps getting big money from big players at a premium.
Another negative regarding the Nasdaq listing is that Craig partly blamed shareholders for selling and he partly blamed forum posters. He even said he sometimes wished CDX wasn’t a listed company. But shareholders warned about financial dangers and shareholders are needed for the cap raise, so blaming shareholders is a terrible look. I wanted to hear lessons learnt, not blame.
Again, I was supremely happy that so many of them showed up and gave detailed presentations that clearly addressed sticking points. They showed that they have plans for predicting and addressing problems proactively.

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Still seems to be a chance they can make millions in revenue, become a $500m company and everyone gets multiple bags then.

exciting year coming up. $1m for just 3-5 doctors. So if they get 500 doctors that’s $50m revenue.

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