There hasn’t been much reported from Claude thus far but take a look at the effort he has put in to reduce the massive burn rate. When he took over MEB was posting an annual loss of $7 mill (around 9.5m the year before that. In his first year he bought it down to just under $4mill and now under $1.5mill. Consumer app on track to be released next month, potential ilumen contracts in the pipeline and now in discussions with FDA regarding MEB sleep with a massively reduced burn rate. Previous CEO’s remuneration was $500k. Claude was on around $150k and is taking some of that in stock instead of cash. Next couple of months is going to be very interesting in my opinion!
MEB Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
