Hi,
Been watching this stock for a while for a buy and was just as shocked, though not as disappointed as investors obviously, when they suddenly missed TGA approval and then dumped the bid altogether. Bizarre.
In the meantime I have been trying to dig up any information about why they failed and also their plans forward. To this end I have sent 2 emails and left 2 phone messages with the company - all without any reply. Finally, yesterday, I managed to get through to someone.
Obviously there was no company information exchanged or offered and I was given the usual speil about how big the market is for RHY and how they are all about the shareholders - to which I responded, 'Alll evidence to the contrary'
In the last 18 months despite having approval to distribute in Europe, approval recently in NZ and a way forward with the US market. They have given investors nothing. Not a partnership, not a screening program, not a single Colostat test kit sold anywhere. Not only that but they havent even provided something of an update about all these markets in all that time - every investor presentation is the same. The question is 'what the hell HAVE they been doing all this time?'
As for looking after the shareholders, HOW? They suddenly dump a critical decision on a market that was fully expecting a positive outcome, without full and proper disclosure as to why and then, and this is the best bit, just shut up shop and let the investors get torn to bits by the market. If thats looking out for investors I'd hate to see what them shitting on investors looks like
The pity here is that Colostat is game changing. I have a few friends in the medical field and they all agree. It's far far cheaper than any DNA test and compares strongly with the results of any of the competition. I have seen on here repeated whinging from the RHY serial pest that they havent published any figures specifically for AA or Stage 1 and I am amazed that no one addressed it and put this idiot back in his box for good.
There is a clear failure by this person to understand the progression of a polyp to CRC. Typically the time frame from AA to CRC is around 7-9 YEARS. So, even if Colostat only had a detection rate of 50% for AA, and I understand it is much higher. But it wouldnt really matter because 50% over 5 years (provided the test was administered yearly) means there is roughly a 3% chance it would have been missed - all before it actually became an invasive CRC - and still for a total cost of far less than a colonoscopy.
As soon as the rout stops I will buy in. In the meantime the decks need to be cleared so that everyone understands where things stand.
I would encourage everyone to write to the company, or telephone them, and demand that they release to the market immediately full disclosure of how and why the TGA failed, where they are actually with regards partnerships and potential deals. The road might be a little rocky ahead but it could still be paved with gold,
Best of luck.
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