Its been a while since I last took a look at my small holdings in the ASX.
This company looks like it will be a slow grind to positive EBDITA, but as the previous posters have mentioned - there is no catalyst for rapid growth, and the share price will probably stagnate.
The reason why I got into the company in the first place was that it has the backing of a renowned university in Singapore. I was hoping they could leverage on the technology and become a multi bagger. I am disappointed.
(1) No progress on the commercialisation of forward osmosis technology which we paid 100k for in 2018. Givaduan was mentioned in 2018, and it still seems to be our one and only F&B customer.
(2) No progress on the commercialisation of the nano filtration hollow fiber membrane which was completed in 2019. In the meantime, an European company, NX Filtration has launched the same product 2 years ago and has a market cap of 400million euros. This was the biggest missed opportunity!
We are now trying to launch GO membranes in a highly saturated market. The first mention of this technology was in 2021, and we did launch a "5 stage filtration product" in 2018/2019, which also fizzled out. Management does not seem able to pick a technology and stick with it so shareholders can reap the benefits of the R&D. Else, the company is just an engineering company without a strong competitive advantage.
DEM Price at posting:
14.0¢ Sentiment: None Disclosure: Held
