You need to stop making things up for a start. I never ruled out that they would not raise money.
I have always maintained that they need a supply deal such as an OEM.
I have stated that they lacked a sufficient retail footprint to move product , they have one now, but it can take time and NUH simply does not have the runway if it doesnt take off quickly
And I have maintained that i find it difficult to reconcil why NUH would want to be in retail in the firts place when a more efficient model is to sell and licence the tech or be a OEM supplier.
According to Miller they had 10 indications of interest on OEM's, in September they had one that was "well progressed" and yet here we are in April 2024 and the company is
https://www.nuheara.com/news/nuheara-limited-asx-nuh-q3-fy23-update-audio-recording/Listen from the 13min onwards where Miller talks about the OEM interest, states 10.
The problem with NUH has always been Miller, he doesnt understand the business he is in, he never has. The strategy he set out completely contradicts RealTek's business model, and even when the question was raised at the last webinar regarding selling the NUH tech into the broad consumer market he lampooned it. RealTek in contrast will sell the chip and tech into every market it can.
Yesterday's announcment for all its statements, tells us little other than they have raised $1.85mln , there is a "strategic review" at hand ( we knew that a few weeks ago) and that they are pursing "M&A" what ever that means.
What the announcement also reveals is finally an admission of Miller's failed strategy, in effect NUH is abandoning what Miller outlined as late as the last webinar in Feb.
It is still a binary outcome for NUH as I have stated many times. They land a deal or some arrangement, things could turn positive very quickly, they fail to land a deal, its all over.
Whatever the outcome, Miller is gone. He should of been gone over 2 yrs ago.
Finally I can never understand why people think HC is an advice platform and then seek to blame other posters for their ills.
(20min delay)