Was the sole shareholder at this general meeting with the CEO and Non-executive director. ePat will be known as PainChek on Friday. Had an opportunity to speak with Daffas for around half an hour, a few points which can add some colour.
- It is anticipated they will hear some feedback from the FDA over the next few weeks for a determination on whether PainChek is either a Class 1 or non medical device which may not need clearance. Daffas believes we will be a Class 1 device and may need some preliminary work done in the US. This year the US is not a commercial focus and he mentioned they would align themselves with a US institution before entering the market anyway.
- Android application is complete and that will be rolled out nationwide to the DSA as they mostly use that platform
- Childrens app is with the data scientists who are finalising the algorithm which will be tested later this year. The difficult part of recording and finalising a library is complete.
- Management were tight lipped around any financials, contract wins to date or even hinting at general forecasts which I asked about. Something may be brewing and the quarterly update will be interesting.
I invest in a few companies and PainChek is certainly one where management are happy to do real work without worrying about the share price. I agree with them as it will sort itself out accordingly over the next 12 months.
Big things ahead shortly, thanks again for your report Mr Clarke..
PCK Price at posting:
5.7¢ Sentiment: Buy Disclosure: Held
