With all due respect to the posters and holders who firmly believe that obtaining CDFA for the prizma and later on the patch is the holy grail, I'm not so sure. Yes it will open up a very large new market and most likely give the share price a much needed kick. But bottom line this company has moved on from start up 5 years ago to executing contracts and increasing revenue.
The first generation prizma and patch were developed some years ago. Who knows when they were submitted for CDFA and FDA approval. What we do know is they both received CE approval 2 years ago. Yet, no contracts or cash flow to speak of in this region, (YET).
A factory approved by CE, FDA and CDFA sitting idle for 9 months now.
I'm seeing this scenario more and more with start up and established players. Being able to SELL the new drug, the new device, the new app and the new service to people who have never used this in the past is extremely difficult. Both BEAT and IRTC publicly state that there sales teams are the single biggest issue holding them back.
So back to the CDFA for the prizma and patch. Once approved it's going to take quiet sometime to generate sales. IDTF facilities need to be establish. Sales and distribution teams/partners educated and deployed.
We all understand the business model and it's potential. We all know what milestones and announcements are due over the next 6 to 12 months. We need to see execution. And sadly we will be looking in the review mirror because all we have to go off is the quarterly 4c cashflow reports.
If you have nothing to do this weekend go back and read and jot down notes from all past announcements. It is staggering how many loose ends are out there. From the initial prospectus to MOUs to company updates the list of items that have been mentioned once but never again is mind blowing. I would much prefer Yacov made an announcement canning all the rubbish statements that are no longer relevant and start a fresh. I suppose that's what the Nasdaq prospects is in a way. No mention of anything from the ASX prospectus and no mention of MOUs, purchase orders etc etc.
So why am I long this stock I keep asking myself? I like the products, the markets they operate in and the valuation. Management are a question market for me from an execution and investor relations point of view. They should have enough cash flow and debt/equity to get them cash flow positive this year. Everything is in place. Product, service, markets and factory. Just waiting on customers!!!
Tax loss selling is over, maybe an update from Yacov this week, who knows? If not it's the 4c at the end of July and hopefully not the 1st of August.
GMV Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
