To qualify whether the board is taking the right actions...

To qualify whether the board is taking the right actions considering these observations,here are three questions I asked Deon Strydom, Chief Commercial Officer(EIQ) today to address critical areas that could impact the company’s success: Deon's answers are in blue.

1. Market Penetration and Revenue Generation:

• Q: Despite an established U.S. presence and resources dedicated to sales efforts, including the hiring of a U.S. president with a relevant medical device background and a 40-person sales team, there have been no announcements of paying customers. Could the board provide clarity on the barriers to achieving paying customers in both the U.S. and ANZ markets, as well as the specific actions being taken to address these?
• A: It is illegal to sell a product that is not FDA cleared (which we only achieved in Oct) What a company can do is support investigational use, but you cannot charge for this. EIQ had 200 000+ investigational use cases.

Product Differentiation and Integration Challenges:

• Q:The software's effectiveness relies heavily on integration with echocardiogram platforms, yet current adoption is limited, and competitor solutions are advancing in ways that reduce friction for hospital workflows. What concrete steps is the board taking to secure partnerships with major echocardiogram OEMs to ensure seamless integration, and how does the board plan to differentiate the company’s product from better-established alternatives in a highly competitive market?
• A:The effectiveness of the technology has no relation to any integration platforms. The company is exploring all integration partnerships where it makes business sense to do so (as mentioned on the webinar today)

Alignment of Leadership Expertise with Product Needs:

• Q: Given that the company recently appointed a CEO with a pharmaceutical background but limited experience in medical devices or cardiology, how is the board ensuring that this leadership shift aligns with the specific regulatory, commercial, and clinical nuances of the echocardiography and AS markets? Additionally, how does the board address concern about conflicts of interest among advisory board members with consulting roles at competitor firms?
• A: To think an advisory Board member can only consult for one company is unrealistic. They are an advisory board member for exactly that reason, they have significant industry or disease state experience and would therefore consult for various companies who focus on these areas/disease states. This is the exact reason why before each industry talk, \ KOL’s have a disclosing statement to say who they consult for. The same advisors will advise for numerous companies.

These questions and answers aim to provide transparency around the board's strategy and to assess whether current actions are likely to lead to commercial success and sustainable growth.

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I should note that I have reached out to Deon Strydom (EIQ) several times, and he has always been professional and prompt in his responses. He asks the right questions and prioritizes effectively, which often leads to focused answers, solutions, and strategies. The company has clearly made wise decisions by expanding their team, securing FDA approval, nurturing key relationships, and applying for reimbursement codes, all of which take time. It's worth remembering that the board holds a significant share of stock, aligning their interests with those of other shareholders. Notably, the new CEO’s incentives are tied to his performance, which means his decisions will focus on long-term success.

It’s easy to bea commentator or spectator, but it’s much harder to be a player on the field ora coach, who is often held accountable. As I’ve mentioned before, considereither rolling up your sleeves and helping the company execute its mission ortrusting that the management team is right for the job. If running a businesswere easier than being an investor, we would all be doing the former.