"And share price went backwards 68%"
Yes, in spite of the following operational and fundamental achievements by the company, as detailed on an announcement on 26th Feb:
1. Record YTD FY24 revenues with a profit for the period;
2. Record quarterly research sales in Q1 FY24;
3. Record Q1 FY24 sales increase - 143% YOY (excluding clinical trials);
4. Record annual clinical trial revenues for FY24;
5. The largest clinical trial contract in the Company’s history ($8m+);
6. Cash of $7.8m, plus the $6m available under the C2V Funding Commitment Agreement
7. Building of chip inventory of 40,370 units (+ additional pending chip orders) for the
production of the CONNEQT Pulse;
8. Pre-launch order pipeline for the CONNEQT Pulse of >$USD500,000;
9. Trial production underway for CONNEQT Pulse in anticipation of commercial launch in H1
2024;
10. A new agreement with SunTech Medical for Oscar 2 ABPM which expands the Company’s
sales territories and revenue opportunities for this device;
11. Completion of the Blumio acquisition;
12. Successful clinical validation of the CONNEQT Band technology (as a pre-cursor to regulatory
approval being sought - anticipated to be July 2024);
13. A digital content partnership with American Heart Association (AHA);
14. National Institutes of Health (USA) recognition and award for the CONNEQT product suite
including the CONNEQT Pulse and our wearable technology;
15. Medtech Innovator finalist for the CONNEQT Pulse – one of the most prestigious global
medtech device awards; and
16. American Heart Association 2023 Healthtech finalist for the CONNEQT Pulse.
The question that needs to be asked is who is nurturing the negative sentiment around a $20m company that has achieved all of this, and what is their objective?
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