Not to defend management at all - I expected continued acceleration of growth and am disappointed in the 4C sales receipts not at least going over $1M - but the lumpiness of cash flow statements illustrated by:
"PerFORM builds momentum In September 2023, Ace Southern successfully launched a private label called “PerFORM collagen membrane”
(Striate+ product branded as Perform). Ace Southern is a subsidiary of Henry Schein with established networks of US based dental service organisations (DSO’s) that provide consumables to multiple dental practices. The Company completed a substantial shipment of PerFORM during the quarter to meet the initial demand of key customers. Adding Ace Southern to the list of US distributors, will increase the representation of the product and assist in servicing a wide range of dental customers in the US."
Cash sales therein will have only just begun to hit the books yet, but the production costs etc, of this shipment will already have.
The biggest cost, R&D costs coming down as expected, but undeniably the lack of a QoQ rise in cash sales disappointing, even allowing for lumpiness of cash receipts from sales.
"This preclinical study is being conducted by Professor Bill Walsh, Director of Surgical and Orthopaedic Research Laboratories (SORL) at the Prince of Wales Hospital in Sydney and the University of New South Wales. The Company anticipates study completion in Q2 2024 with results to follow. For more information click here."
Guess, I am pushing Remplir US FDA approval and launch back a quarter (completion was previously guided for 1Q 2024) and accordingly (small) positive cash flows to early 1Q 2025.
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