PSY was floated in 2001. They still haven't moved beyond the startup stage.
PSY do not own the Intellectual Property. That belongs to the University of WA.. This is a critical issue which may cause major problems in future (eg royalties, third party licencing and licencing to competitors),
The only assets PSY have is cash (equivalent to 2 cents per share).
There are no major institutional investors in PSY. This is unusual because companies like Soul Pattinson and the microcap funds frequently invest in small Australian tech companies
Over the years PSY have burned through a pile of shareholders cash without ever producing a product. They now claim to have developed a prototype hydrocarbon detector. This product will take years to develop and field test. (like every other advanced technology). It is doubtful that a profitable market even exists for this product because BTEX is no longer used in fraccing. There are already hand held hydrocarbon detection systems on the market. In any case PSY would have to sell thousands of hydrocarbon detectors each year to justify their market cap.
PSY will almost certainly need several massive (tens of millions of dollars) CR to develop new products. This will cause a major dilution of SH value.
The LumiMEMS reader is a complicated and (very) expensive chemical detection technology designed to replace or complement existing laboratory instruments. It is not consumer grade technology.
The MEMS devices used in phone, tablets and smart watches and other consumer electronics are very simple electromechanical devices such as accelerometers. These cost a few cents each. This market is alreadycompletely tied up by the major semiconductor manufacturers.
PSY Price at posting:
34.0¢ Sentiment: None Disclosure: Not Held
