ADR has been a terribly disappointing performer of late, and this has been as a result of a lack of news and a follow through of the 4c that only showed $543,000 in revenue (well down from the $1m+ previously). There has been a management change, and the downtrend has accelerated now to "stupid cheap" levels.
Prior to leaving Argonaut, I was the largest net buyer of the stock, and those holding now are down a few cents on paper, which is perfectly normal when the only pressure is of the downward variety. I haven't established any rapport with management as yet, but in Queenstown next weekend that will change at the Bioshares Conference.
I still maintain that this is an outstanding growth opportunity, but has copped it a little harder than I would have liked. Now that tax loss selling has past, I am hoping to see a slow and steady recovery, followed by a greater clarity on where we are heading. The product is good and the adherence to the device from children especially is significant.
I intend to provide a brief snippet from the conference, that may or may/not be posted here.
