Cryosite has resumed its role as the lowest-capped operation in...

Cryosite has resumed its role as the lowest-capped operation in the listed medical stocks space.

My scans reveal a total of about 190 health-related stocks on the ASX.

While CTE has spent time on the bottom before, it stepped aside to make room for $NTI/Neurotech International, a group trying to help out those suffering from autism.

But - ahead of a $600k capital injection - NTI has risen from the floor. Its market cap is $2.3m…about 10% more than CTE’s market cap of $2.06m.

Why is CTE on the bottom? Who knows?

On August 27 chairman Bryan Dulhunty announced the group would be receiving a $1m cash settlement for loss and damage relating to legal advice on a proposed cord blood assets transfer to Cell Care Australia.

Did the market celebrate prospect of 2.1c per share hoist in cash backing? It didn’t. Shares fell 0.3c to 5.7c.

Then, director and chief shareholder Andrew Kroger resumed his hoovering operations, outlaying $28,500 off market on a 500k parcel at 5.7c a share.

Did the market salute an insider wearing more “skin”? It didn’t. Shares fell to 4c. Marker cap sunk to $1.88m.

Oddly, the more positive news out of CTE, the more the stock falls.

With no debt, cash near $5m – more than 10c a share – and last reported sales growth of 35% to ~$8m, the market faces a question: Is it appropriate that CTE remains the lowest capped med/tech on the ASX?

While the market ponders, I’ll furnish an answer: Absolutely not.