They’re bleeding money with obviously no new customers coming in. And looking at quarterly figures, probably losing customers when you compare revenue to same time 4 years ago. Placing all their eggs in one basket with FDA approval for if not received, they’re screwed. Even if approved, they’re banking on large market share of their product which would take a substantial amount of time. Their product has been around long enough now, yet not gaining any traction. What does that tell you? $1.4 million was non covid sales this quarter with $224000 of that overseas. That’s abysmal. I remember Melki waffling on during Covid that their product would bring in new customers off the back of Covid testing but it’s gone backwards. Hence why he probably got the tap on the shoulder. Quarterly only mentions that GSS have been responding to the most recent round of questions from FDA and no timeline. Surprised that those that participated in the Capital Raise haven’t taken their 75% profits and run
GSS Price at posting:
69.5¢ Sentiment: Sell Disclosure: Not Held
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