Due to the impact of the COVID-19 pandemic on elective cardiology procedures, Osprey is shifting its focus on growthterritories. This renewed focus is also being complemented by a cost out program which involves:• 33% reduction in the sales force with all remaining sales team members taking a 20% temporary reduction in basesalary.• 35% of the Internal office-based staff were furloughed with all remaining staff members taking 20% temporaryreduction in base salary• Independent Non-Executive Directors have forgone compensation 1 April 2020 - 31 Sept 2020 and pendingshareholder approval will take stock options in lieu of cash compensation for the period 1 October 2020- 30 June2021• Reductions in non-essential marketing, sales, product development, and general and administrative expenses
OSP Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
