Nova Eye Medical (EYE) Discussion, page-4

What a great post Analyst007. I wish you were around a few years ago when I knew absolutely everything about the MIGS space. The last few years I have put research on the back burner due to family commitments but I still hold and will be adding to my holding.

Further to your excellent post:

- the market cap of 26m does not represent the significant funds spent on building out the sales infrastructure for iTrack over the last 5+ years (and manufacturing facility!) and also the R&D/clinical trials expenditure to date on iTrack and to a lesser extent 2RT.

- Management have never really bought on market for as long as I could remember.

- Management sales execution of the legacy iTrack product was underwhelming. They were very optimistic when it was released and sales were growing (remember when we were at $1.50???) but clearly it was a difficult procedure and not grasped by the wider community. Looks like iTrack advance fixes this!

- Profitability: as you say, the other competitors to iTrack are making huge losses, so clearly they are spending big $$$ on marketing and sales build out. In the past, we have been conservative i.e. trying to aim for cashflow positive - this can be positive/negative from a sales execution/market share gain perspective

-China: I'm not convinced with China, they were the only player in MIGS years ago in China but still no sales traction - perhaps it's related to iTrack legacy. Let's wait and see

- 2RT: hopefully they find a partner at a good valuation. The trial will take 3 years once started, so a long wait but iTrack advance can be the catalyst for share price growth over the next few years and then further rerate once trial of 2RT finishes.

Sitting back, reading your post, collecting my historical thoughts on Nova/Ellex has made me top up tomorrow!