GMV (ASX) GMV The Future

Originally posted by Ruby15: ↑

Hi Galilee13,

This is a disaster of an Annual Report and I don't understand how the Company could be in such a poor condition. I can't put my hand on exactly what is wrong (maybe it's across the whole company) but we should have a truck load of inventory & components ready to make Prizma Devices and GMed Patch's at the snap of the fingers. GMV as a company should have 1,000's of both devices to use during this Covid-19 Pandemic.

This is a snippet from the Annual Report (page 11)which is quite disturbing:

Note 1 - DESCRIPTION OF BUSINESS:

A. Overview

The company occured a net loss of $15,506 for the year ended December 31, 2019 and generated USD $63,340 of accumulated deficit since inception. These events and conditions, along with other matte rd, indicate that a material uncertainty exist that may cast significant doubt on the Company's ability to continue as a going concern.

This overview is disturbing because I know alot of the LTH's have quite a sizable stake riding on GMV and IMO it has global plans for expansion. Not being privvy and the lack of substance relating to announcements, is like the "boy who cried wolf". Dr Yacov has lost an incredible amount of credibility and his announcements mean nothing.

GMV's future capabilities rest on getting a sizable contract with money up first. We need money in the bank because raising money in this current crisis is diluting shareholders position in this company. Another interesting read of the report, is how Dr G has his shares distributed between other financial organizations, for what reasons I'm not sure.

I still believe in the product and how it can impact the Health Sector however Dr Yacov and his team need to go into overdrive to get GMV noticed. By the way, yesterday I sent an email to the paper who ran that story in the Age Newspaper with no reply at this stage We should be knocking down doors during this pandemic, selling the product and also get that Chinese factory up and running.

GLTAH'S DYOR IMO

Good luck

Cheers Rubes

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Wouldn't worry too much about this Ruby. Plenty of companies have raised billions before they turn a profit. Another smallcap I follow (LVT) has raised about 120 million in the last 2 years and is still not at break even. They put these disclaimers at the end of many annual reports of loss making companies. Most start-ups are loss making for the first x amount of years and rely on capital raisings for funding.