It's taken a while to get moving but I sense that change is on...

It's taken a while to get moving but I sense that change is on the horizon. When you look to the register and management team it's clear that they have some great backing. Freeman Rd who were early backers of RAP feature, Mayo Clinic etc. It's a register built on expectation and we're now at the delivery stage. Ron Weinberger from NAN and EMV success is a company builder, it's his time to shine soon.

When you look to the commercial pathway there's a lot of 'could be' deals now reaching maturity. When these commercial deals start rolling in I'm backing HMD for a reasonably major rerate in the range of $50-100m MC, perhaps higher. A company with all the right acronyms (TGA, FDA, CPT etc) targeting a market of over 200 million consumers a year presents a very large opportunity, an opportunity which can quite easily attract a blue sky valuation well in advance of blue shy revenue.

It's anyone's guess as to when the first substantial commercial deals begin to flow but given the foundation work done to date the optimist in me thinks we're on the cusp of these now. The cynic in me assumes those buying today likely have a better grasp on the timing than they ought to...