I really hope things work out for the sake of shareholders but...

I really hope things work out for the sake of shareholders but if I was holding I’d be scrutinising the following comments from the company and CEO if I was to have confidence in the leadership:
- Dec 18ish - newspaper article talking up $20m in 2019.
- April 19 - prospectus with charts suggesting rapid growth on all product lines.
- August 19 - sticking to the same story with headline summary of 222% growth for HY update.
- Jan 20 - unaudited $4m-ish sales (also reported as 3.2 in financial statements which is flat) for 2019 and $12m loss of which more than half is staff costs rather than the R&D which was the reported need for the IPO cash injection.

So either overly optimistic or poor ability to predict future results. The next product is always going to be the big one. Seems likely they’ll need more cash from someone before the end of 2020 unless sales increase dramatically. Who’s keen?

Exercise caution and ask for some answers in the update call tomorrow.