Decent release. The numbers and activity are not looking terrible at this stage, so I am not going to lose sleep over it.
My main concern is Alcidion putting all its eggs in one basket i.e. North Cumbria EPR. Imagine the outcome if it never happened or, for some reason, got delayed or canceled, as other NHS hospitals have done with their EPR procurement in the past.
All the focus seems to be on achieving cash flow positivity. Given how close they are to the $36M mark, I would not be surprised to see this happening. One more contract or a further reduction in headcount and operating expenses, and they will be there. But will this re-rate the company to the mid-10s or 20s? My guess is no.
From a growth perspective, this company is going nowhere. When you consider how long Alcidion has existed since 2000 (approx 25 years) it is nothing more than a slug on the ASX wall.
ALC Price at posting:
6.7¢ Sentiment: Hold Disclosure: Held
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