The Company made a significant foray into the Indian market during the half following execution of a Joint Venture agreement with its Indian partner, MedAchievers. Whilst the joint venture remains in place, following a pause over the Christmas period, the Company is yet to receive the orders hoped for under this arrangement. The Company is still confident that this relationship will bear fruit but the commitment in time and resources will be more modest in the future - in line with the Company’s broader overall strategy.
With the new board and new management team came the new strategy. As this is implemented across calendar 2020 the company has revised its budgets to accommodate a greater focus on commercialisation and less on marketing and international markets, at least in the near term. Medical trials, device certification and the end to end manufacturing process, however, remain key components of the strategy.
Raysea, as mentioned in the report - our near term focus is commercialisation and less on marketing (like Michael Clarke) and international markets (like India). As soon we have an accepted rollout model in Australia (4Q) international markets will follow. We also changed to a SaaS (Software as a Service) company, requiring different Businesses structures and acceptences like India and elsewhere.
Directors are still accumulating those cheapies while the can, showing current holders of their confidence in RSH.
Cheers
RSH Price at posting:
8.1¢ Sentiment: Buy Disclosure: Held
