CEO has a history of over promising and under delivering. 4c will once again show high cash burn with top heavy management and an over paid CEO producing low revenue and growth quarter on quarter. There was talk of break even 6 months prior to Covid so this will buy them time to figure out how they are going to keep this thing alive.
Too many proven competitors that were first to market with better devices. Tap, MDSA, EMA, Sommnomed and about another 5 I could list.
Have any holders asked themselves why no prominent Sleep Specialists in Australia are using the Oventus device like Stubbs, Gershman etc??
I have been watching this stock and commenting for the last few years and it has not progressed in Australia or USA to any great extent.
The other ASX listed MAD manufacturer has first to market advantage, comfortable and recognised as the benchmark and is improving design and market share every year. And no I don't own shares in that company but know the product very well.
Good luck to all holders but I suspect I will check back in 6 months and I recon if they will be lucky to have shown any revenue growth.
DYOR and lets see how it is looking this time next year.
OVN Price at posting:
27.5¢ Sentiment: None Disclosure: Not Held
