I don't think you should beat yourself up too much over your decision to enter. There were many positive signs at that stage:
- Much positive research around Mente.
- A wealth of positive testimonial from informal in-home trials.
- Distribution agreements in place around the world.
- A clinical trial in progress, which had reported astonishingly strong interim results.
- Plans to use the clinical trial results in an application to the FDA.
- Plenty of cash on hand to finish the trial and lodge the FDA submission.
I felt that was more than enough to justify an investment.
But items 3 to 6 have all evaporated. Most shockingly was the degree to which the clinical trial results evaporated from "some subjects performing in the normal range" hype to a set of barely significant changes for a small set of target tests. That destroyed the prospects of getting FDA clearance. That in turn destroyed the chances of getting any kind of subsidies for the product as a therapeutic device. As a consequence the company's marketing strategy was left in tatters, requiring a complete strategic rethink.
Add in the bolts out of the blue – employee legal action and fake academic qualifications – that have left the device's and company's reputations in tatters, and the investment picture today is completely different. In my view, this stock is not to be touched with a barge-pole.
I sold at a 50% loss last year when the company's update mentioned a "long, expensive but well-tested road" ahead. That statement had "hopeless" written all over it!
Good luck to you if you choose to stay in, but I think that this stock comprehensively fails the "should I stick with it" test.
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Last
7.1¢ |
Change
-0.001(1.39%) |
Mkt cap ! $72.23M |
Open | High | Low | Value | Volume |
7.2¢ | 7.2¢ | 7.1¢ | $270.0K | 3.761M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 17129 | 7.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.3¢ | 176986 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 17129 | 0.071 |
4 | 268708 | 0.070 |
3 | 237492 | 0.069 |
1 | 50000 | 0.068 |
2 | 40500 | 0.067 |
Price($) | Vol. | No. |
---|---|---|
0.073 | 176986 | 2 |
0.075 | 35347 | 1 |
0.078 | 176655 | 2 |
0.079 | 264102 | 2 |
0.080 | 318421 | 3 |
Last trade - 15.35pm 23/08/2024 (20 minute delay) ? |
NTI (ASX) Chart |
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