I am also a long term holder - more than 5 years. While I agree with a lot of what you say, only Rover has been available for sales. All the other products are in development, and there are always delay risks with new products. The delay on Argus has been very disappointing but they seem to have the product ready for sale and let's not forget they don't need the same regulatory approvals for Argus as they do for Rover and the CT scanner. I think the Varex investment suggests the technology is very good, even excellent, hopefully a game changer in airports and ambulances. It is much easier to replace management than find a competitive advantage. I think the Board knows this drift and lack of sales has gone too long and the new team probably also know if they don't generate sales they will also be gone. On a strictly rational basis, even if the airport scanner is the only good business unit for MX1, we still make a very strong return on investment. I also believe the CT scanner could be massive. We need Argus for the cash flow. I will be very surprised if we don't see sales of Argus this calendar year. I think the only thing that will stop Department of Defence buying at least 10 of them is budget.
MX1 Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
