Quiltman. I fully agree with your post.
Further to my last post yesterday, the report writers for Sensera NEED to take a quick course in report writing & maybe in the English language.
What was the company trying to communicate in yesterday's quarterly report ?
If they were trying to communicate that NanoDx have:
- challenges that have slowed their progress towards volume production,
- they DO NOT anticipate any problems with being granted the EUA shortly and
- Sensera have been asked to start the ramp of sensors in Q1 of FY22 predicated on EUA...
WHY communicate it in such a negative way that makes many shareholders wanting to jump ship.
The application to the FDA does not involve rocket science & is a quite straight forward process.
I am posting AGAIN email I received from Ralph Schmitt mid Jan 2021. This is his exact wording !I am sorry to hear that investors are leaving due to not fully comprehending what we do and the value of that. Bottom line is we will be selling unpackaged sensors. These are microfluidic devices that take fluid and supply electrical information to a reader.
We build all our products on wafers. Once fully processed these wafers have hundreds of sensors. We ship these sensors and they are packaged in plastic carriers (by someone else as this is not our competency) to be inserted in the reader. To say this is a straightforward wafer is ridiculous. This is a highly sophisticated unique structure with days of processing with unique materials that when combined form the sensor. It took 18 months to develop with many PHD level people at the customer and Sensera to make operational. The information extracted from the sensors we provide is then put into a software algorithm in the reader that determines if a person has COVID or not.
Hope this helps but whatever “definition” people want to use for what we do, we will ship millions of them and have potential to ship at least $10M worth of product at 45-55% gross margin (all previously publicly disclosed). Our limitation will solely be the equipment to process and how much output we can get.
