The term that best describes this self indulgent style of accolades when 90% of SP has eroded for shareholders is living in the "lifestyle company".
They thank the support of shareholders, who get rewarded with a huge loss. They have failed to bring anything to revenue stage, the so called experts. Failed to see the In Vivo barrier to sales. Failed to plan for it too. The so called experts didn't see that train coming.... or did they? Or did they conveniently sweep it under the carpet?
Also how many cartridges were sold to the Indian Women’s Center IVF who bought the 2nd machine? The announcement on 30 March 2022 failed to state the number and said they bought more however the purchase price so "immaterial" they didn't report that.
Has anyone bought more cartridges after that announcement? Not that I am aware of. That alone says a lot.
What about all the KOL reports, anyone read any? Not me.
What is the shelf life of existing cartridges and Felix machines?
Anyone see a stock/inventory count?
Current rate of cash burn is around $1million/quarter ..... you need to sell a hell of a lot of machines and cartridges to break even, so the time line of this company EXISTING WITH CAP RAISES is looking rather eternal. The best they can hope for is a buy out, but no-ones buying without solid In Vivo results.
The overwhelming support of votes for the affirmative might simply be "better the devil you know than the one you don't", meaning finding a suitor capable and sufficiently qualified to run the show is extremely unlikely..... however all of those engaged within MEM live off the teat of the shareholders so best praise things to keep their jobs, than own up to their failings and have a proper plan. My 2 cents worth.
MEM Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
