Hi all,
FWIW from someone who is not an expert but has long-followed the company, I sold a few on this news.
I didn’t like the late afternoon ‘drop’
Plus part of the transcript I reposted here the other day
[see here], has (again) been sticking in my mind .
IE I was not happy with the somewhat dodgy answer Judith Mitchell first gave Martyn Jacob when he asked about numbers of surgeons ..
Here is that part again…
…And so you previously talked about 200 hospitals as a target to sign up by December, if all things go well from here.
How many orthopedic surgeons does that translate to?
Judith Mitchell, Next Science Limited - MD, CEO & Director [9]
Depends on your hospital. I mean, some have 15 to 30.
Martyn Jacobs, Canaccord Genuity Corp., Research Division - Senior Analyst [10]
The ones you're targeting?
Judith Mitchell, Next Science Limited - MD, CEO & Director [11]
Probably an average of 6 a hospital.
So about 1,200 people. So we've probably met 1/6 of that by now.
I can’t see how that initial answer of hers was anything but
intentionally obtuse.
Why intimate 15 to 30 surgeons when there is only an average of six surgeons per targeted hospital ….( Some of the 200 being targeted might only have one surgeon, or two?.).
And now, with this update, I wonder how many hospitals/surgeons they have added since then - especially bearing in mind some of the VA customers moved straight across (as per other comment in that transcript) .
And are they now paying the 200 new staff out of this reduced revenue?
Also despite being very positive about the product, Xbio, I still have a bad taste in my mouth from the jaunty update in May 2019.
[May 2019 Investor Presentation].
-I feel the company already knew things were not going well at 3M but that their presentation was designed to keep the ‘non family’ investors happy until escrowed ‘insider’ investors got out.
This undercurrent of my feeling management loyalties are not necessarily with ALL shareholders was reinforced when I found out the young woman charged with selling the NXS acne product seemed to be Judith Mitchell’s niece.
And then there is the regular animosity towards management on the forum from
@Roadrunner1717 - she has never explained why, but s presumably has her reasons?
So, no number crunching, just a few different factors adding up to a bad taste and, for me, the sooner the product range is sold the better it will be.
cheers
(20min delay)