IPO update, page-557

Heres a couple

-US$5 mio of revenue per annum (FY2020), cash on hand of ¬13mio with a market cap of 35mio valuing the business at US22mio or just over 4x revenue which is cheap in this space - comps on the low end are 8x on the high end 20x +
- US$13mio of newly minted fresh capital to facilitate growth
- New hospital clients increasing IDTF numbers with further potential to grow - have onboarded 10, would like to see where the other 7 are at and whether more in the pipeline
- Guthy renkr agreement to come online Q4 for D2C sales
- Livecare and All County distribution agreements, any update here would be great
- NMPA ---- surely, this has been such a cluster f' of an approval
- Unity health point trial in Illinois - is a large methodist hospital across Iowa, Illinois and Wisconsin

My theory only, but anyone with unrestricted shares that held this prior to delisting on the ASX is selling, people that bought into the IPO are probably selling as nearing a 50% loss, on no new news there is little demand for this stock given its previous history, the underwriter probably has had to sell out as well if they took a significant amount of stock from the IPO, and perhaps some short selling activity as well although official numbers published to the NASDAQ remain low.

Given how poor the managements communication has been in the past id hope they rectify this going forward, and an update coming out of the quite period is warranted and needs to show pipeline and progress for the next 12months.

They havent released last quarters revenues which id love to see, but i wouldnt expect them to be good given the significant capital constraints. They also continue to have a large operating loss on a QoQ basis and they need to narrow this down to a pace thats feasible / profitable.......