Mike came back on my questions, he missed the mark, so my reply is below:
Scott,
Thank you for your note. We did have a General Meeting of Shareholders on September 3rdand it was nice to have shareholders participate. The BoD and management is focused on increasing the stock price, with the foundation for this coming from increase sales while controlling operating expenses. We will continue to give progress updates to shareholders on our progress and we look forward to having a 4C call with shareholders next month. We continue to focus on achieving and exceeding company goals with our products that protecting patients from the harmful effects of Contrast Media. Thanks again.
Mike McCormick
o: 952.955.8231 number | c: 612.669.9061
-- Reply
Thanks Mike for getting back to me.
Though my questions haven't been addressed. The consolidation has significantly impacted on shareholder value to the tune of 35%, this is not a great selling point on the consolidation strategy and as yet its impossible to determine how you will turn this around. As for operating costs, you need to increase your sales by nearly 20 times the current sales just to break even, what's the forecast trajectory to achieve at least breakeven in the foreseeable future? Your burn is continuing and without a significant turn in sales a CR is imminent and again the start of shareholder dilution, what's being done about this?
I look forward to the next shareholder briefing.
